The mastermind of a mortgage fraud was believed to be enjoying a millionaires lifestyle in Nigeria last night while his wife was beginning a four year jail sentence.
Victor Ayinde-Azeez, a respected financial advisor, conned high street banks fo provide loans for 24 homes in just six weeks at the height of the property boom.
He fled Britain before the 8.4 million conspiracy was uncovered but his wife, Ruth, 26, was caught when she returned to collect their son.
The case will raise questions about the security checks carried out by lenders as they courted wealthy customers and buy-to-let investors at the peak of the property market.
Mrs and Mrs Ayinde-Azeez moved into a 2.1million newly-built mansion in Arkley, North London after putting down a 100,000 deposit from the stolen mortgages. The home had 13 plasma televisions, a gym and sauna.
They were regular customers at the fashionable Caf de Paris nightclub, spending 600 a night on Cristal Champagne, and travelled first class to holiday in five star hotels.
Mr Ayinde-Azeez, 32, bought a new 140,000 Bentley Continental Convertible but replaced it after just a few months because he wanted one with a hard roof.
He also spent tens of thousands of pounds on watches and diamond jewellery and the couple went on lavish shopping trips to Harrods and Selfridges.
The fraud centred on Mr Ayinde-Azeezs company M Solutions and Financial, based in Finchley, North London. It processed fraudulent mortgage claims for property across London and the South East. The homes ranged from buy-to-let flats to detached houses valued at 750,000.
The applications were approved by Frank Ezuma, a lawyer employed at Phoenix Nova solicitors, in Dalston, East London. He is also on the run and is believed to also be in Nigeria.
The main lenders to fall victim to the deception were Birmingham Midshires, Bradford Bingley and Cheltenham and Gloucester. Much of their money was transferred to foreign banks, mainly based in Dubai.
Mr Ayinde-Azeez, who also uses the names Victor Strong and Victor Davies, left Britain at the end of the 2007 to return to his native Nigeria. He was joined by his Kenyan wife for several months while her mother looked after their son in London.
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