Peterborough Man Jailed Three Years for £500K Global Covid Fraud Scheme

Ali Amjad, a 42-year-old man from Peterborough, has been jailed for three years for orchestrating a sophisticated Covid-era payment diversion fraud that defrauded companies worldwide of over £500,000. Amjad and six accomplices tricked businesses into changing payment methods by impersonating legitimate suppliers, manipulating direct debits, standing orders, and bank transfers, and submitting false applications for UK Government Bounce Back Loans issued during lockdown. Victims included a Cambridgeshire agricultural organization that lost more than £205,000 after hackers intercepted emails to alter invoices, as well as companies in Oman, Qatar, Kuwait, South Africa, and Singapore. Police discovered over £80,000 in cash hidden behind kitchen kickboards and £3,600 in a wardrobe during a 2020 raid on Amjad’s home. Investigators noted Amjad's previous money laundering conviction and his confidence in evading capture by only dealing in cash. Several accomplices received suspended sentences and community orders for their roles in facilitating the acquisition of criminal property and laundering money through their bank accounts.