Inner London Crown Court has granted confiscation orders totalling £376,608 against Ikram Rafique and Mohammad Hamad. Rafique operated a ghost broker and charged more than 900 motorists up to £300 each for insurance policies. Hamad laundered the funds. City of London Police’s Insurance Fraud Enforcement Department brought the proceedings.

Detective Sergeant Alan Yau from the City of London Police’s Insurance Fraud Enforcement Department, said: “IFED will use its full suite of options to make sure that fraudsters don’t benefit from their dishonest actions. Should Rafique and Hamad have available assets in the future, we will make every effort to recover the outstanding amounts, showing that selling fake insurance doesn’t pay.

“We know that the rising cost of insurance premiums means people are always looking for a cheap deal, but it’s important to check you’re buying from a legitimate source and that your policy is valid.”