A jailed fraudster was ordered to hand over pounds £207,000 in crime profits following an £11.63 million money laundering scam.
Former fugitive Michael Voudouri is serving an 11 and a half year jail sentence for dispersing the proceeds of the so-called VAT 'carousel' fraud and breaching his bail.
Voudouri, 46, fled Scotland for Turkish-controlled northern Cyprus but was later returned to face justice after he had admitted the offence and had to be brought back.
Sentencing, judge Lord Tyre described how he was involved in carousel fraud wih Q-Tech Distribution Ltd at the start of the last decade. Carousel fraud is when goods are imported without paying VAT, then sold to a firm run by an accomplice and the tax is claimed back from the government.
Lord Tyre said it was "a complex money laundering operation" with large sums being transferred to banks in Cyprus, Greece and Switzerland.
Some of the money was eventually channeled back to Scotland to be used by Voudouri to buy a house at Bridge of Allan and fund a designer clothes business in Stirling.
The Crown raised proceedings against Voudouri, who was previously the subject of a proceeds of crime action, to seize crime profits.
A judge at the High Court in Edinburgh was told today during a brief hearing that a settlement had been reached in the latest case.
Voudouri's counsel Euan Dow told the court that under its terms it was agreed that the benefit figure for his criminal conduct was pounds £11.63m
Mr Dow said a confiscation order should be made in the sum of pounds £207,339.
Advocate depute Barry Divers said the confiscation order figure represented Voudouri's "realisable assets".
Among the assets listed in the proceeds of crime action was a property at 41 Cragganmore, Tullibody, in Clackmannanshire and a collection of designer watches.
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