A financial advisor who made £8.2m through bogus mortgages must surrender his million-pound home and luxury cars or face six years behind bars.

Adeel Mirza, 45, of Aldersbrook Road, Wanstead, was handed a six-year default sentence in August 2013 after he admitted 10 counts of fraud and deception.

He made widespread use of fraudulent documents to set up fake mortgages for his clients, including a heroin dealer and a corrupt solicitor.

A financial investigation by the National Crime Agency (NCA) uncovered a web of multi-million pound financial transactions involving fraudulent mortgages, bank accounts and properties being held in the names of Mirza’s family members, including one property bought in the name of a deceased person.

He also held offshore bank accounts in Switzerland and Jersey, including a company in Jersey that owned 15 rented properties.

As part of his sentencing, he was made subject to a Financial Reporting Order every six months for 15 years, which requires him to submit details of his income, bank accounts, assets, business transfers, pensions and loans.

Mirza now been ordered to pay back £4,180,788 within 12 months or face jail following a confiscation hearing at Southwark Crown Court on September 24.

His £4.1m assets include his six-bedroom family home with a swimming pool, jacuzzi and luxury home cinema in Wanstead, a Bentley Continental and Range Rover, cash held in offshore accounts, watches, jewellery and 14 rented homes in London.