A Dundee businessman who ran a multi-million-pound VAT fraud scheme has been ordered to pay £240,000 to prosecutors.
Shahid Ramzan, 42, was ordered to hand the cash over after a proceeds of crime hearing at the High Court in Edinburgh.
He was jailed for nine years in January 2013 for evading VAT payments of £5,611,839 between October 2002 and July 2004.
He was also found guilty of transferring or hiding “criminal property” of £20,610,213.
Yesterday, Ramzan’s legal team and prosecutors agreed he made £6,883,160 from criminal activities.
However, at this time he only has £240,000 available in assets.
Prosecution advocate Barry Divers told the court Ramzan would pay the sum within six months.
At his trial, the High Court in Edinburgh was told Ramzan began trading from a bedroom at his home in Broughty Ferry with only a telephone, a fax machine and a computer.
Prosecutors claimed his international dealing was only a cover for his real business, exploiting loopholes in VAT regulations, along with others who were using Missing Trader Intra Community (MTIC) VAT fraud.