Conman jailed for £8 million bank scam
Conman Frageand Naseem was yesterday jailed for nine years after being found guilty of a simple but very effective scam which netted him £8 million although had him on the verge of a potential £100 million return. It appears that armed with just a mobile phone and a library card for ID, Frageand Naseem was able to obtain, by persuasion, an array of personal and very confidential details about large banking customers of the Royal Bank of Scotland, Barclays and HSBC and then persuade staff to change account details and transfer money to his Dubai account.
Police believe he was on the verge of a £106 million transfer when the scam was revealed although there is a feeling that he has already deposited large amounts of money in secret offshore accounts which he will collect after his time in jail. Rather bizarrely it was also revealed that after he received the money, from the various scam operations, into his Dubai account he then rang the banks in question and openly mocked them on the telephone.
Further investigations into his private life show that he owned a five bedroom house in Edinburgh and leased a Range Rover but in no way led an extravagant lifestyle, leading police to conclude that the vast majority of money taken has been hidden away for the future.
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