An on-the-run sock tycoon convicted of massive tax fraud will lose his £90 million property empire, a judge has ruled.
Sock manufacturer Arif Patel, 57, will have homes and business premises he owned taken from him after a confiscation order granted by a judge at Chester Crown Court on Thursday.
Patel, who now lives in Dubai, masterminded a gang that was convicted in 2023 of one of the UK's biggest carousel tax frauds.
Carousel fraud is a complex scam where criminals create chains of fake business transactions to steal VAT repayments.
Goods are moved between different companies in a circular pattern, creating false export and import records that criminals use to claim back large sums from tax authorities.
