The Daily Mail reported that Saghir Afzal, 50, fleeced banks out of £49 million by buying cheap properties, including a cowshed and an abandoned air base, and paid crooked chartered surveyor Ian McGarry, 43, to provide false valuations.
In June 2011 Afzal was jailed for 13 years and McGarry was locked up for seven years.
Yesterday they were ordered to pay back a total of £30,826,013.86 in one of the largest confiscation orders ever made in the UK or spend a further 16 years behind bars.
Between 2004 and 2006 companies controlled by Birmingham-based fraudster Afzal and his brother Nisar, 54, bought six commercial properties for just £5,688,125.
McGarry, a director at Dunlop Haywards Lorenz, then provided false valuations in order for the Afzals to deceive lenders into loaning £49,287,000.
The Afzal brothers - who sent £26m to Pakistan - bribed McGarry with lavish overseas holidays in Dubai, an Aston Martin car, cash in brown paper envelopes, and the purchase of three properties in London, valued collectively at more than £1m, to aid the massive scam.
Saghir continues to deny involvement in the scam and refused to take part in proceedings but the judge ordered he pay back £29,276,565.91p within six months or face another ten years in jail.
