‘Pride of Kharian’ Shahid Luqman Came UK On Student Visa Went Back With £300 Million

Shahid Luqman born in Bangyaal village of Kharian, District Gujrat arrived UK in 1987 on Student Visa, studying finance at Manchester University.

'Pride of Kharian' Shahid Luqman Came UK On Student Visa Went Back With £300 Million
‘Pride of Kharian’ Shahid Luqman Came UK On Student Visa Went Back With £300 Million

Besides his studies he started earning money in UK and purchased his first house in UK while he was still a student at Manchester University.

By the time he graduated in 1991 he owned 24 houses which he rented out to other students and also started working in a bank.

In 2000, he formed his firm Lexi Holdings, which provided bridging finance to MPs, footballers and entrepreneurs looking to build property portfolios.

In 2004 he was named ‘Young Entrepreneur of the Year’ by Ernst and Young and was living in a £5m mansion in Hale, Cheshire.

He drove a Bentley Continental GT and travelled in his own Gulfstream IV transatlantic business jet.

His property and finance empire – financed by bank loans – was worth £300m and his £250m personal wealth saw him placed 238th on The Sunday Times Rich List and named as one of Britain’s richest Asians.

In 2005, Luqman boasted in an interview: ”Overall, we are a billion-pound company. In 10 or 20 years, I want us to be as big as a high street bank.”

But, in 2006, his property leasing company went into administration with debts of £100m amid allegations of dishonesty.

He was also banned from running a company for 15 years, branded ‘completely dishonest’ by a High Court judge over a furniture firm he ran, and had his business assets seized by administrators.

He was then jailed for two years in July 2007 for contempt of court and found liable for more than £100m in funds allegedly misappropriated from his collapsed business empire.

In 2009 he was jailed for another 12 months for contempt after he disposed of two Range Rovers and two valuable paintings and sold land in Pakistan.

In 2011 Luqman was arrested for a third time after he tried to apply for a new passport despite court orders banning him from applying for any travel documents.

He falsely claimed, in the application, that his old passport had been mislaid in

a house move and he needed the travel document to see his ailing parents who had been taken ill in Pakistan.

But on April 27, 2011, Luqman escaped jail for passport fraud – claiming he suffered from ‘flashbacks and panic attacks’ and was ‘not a well man’.

He was given a suspended prison sentence and was ordered to wear an electronic tag for three months.

But on June 10 of that year he went on the run with what was described as ‘hundreds of millions of pounds in cash’ gained from Halifax, Barclays and Lloyds banks.

He flown from Manchester Airport to Pakistan without a passport and with millions of pounds in cash in June 2011 – just weeks after he was given an electronic tag by the courts for passport fraud.

He was awaiting sentencing for possession of cannabis resin at the time and would also have faced a charge of breaching his electronically monitored curfew by fleeing the country.

Multi-millionaire Shaid Luqman fled the country with a trail of debt over the collapse of his £300m business empire.

But last year a judge at Minshull Street Crown Court, Manchester, agreed to drop the arrest warrant for Luqman after accepting there was no realistic prospect of him returning to the UK.

Luqman’s younger brother, Waheed, is also said to be in Pakistan, and is also wanted by police in the UK, having been jailed for seven-and-a-half years in his absence for fraud in January 2013.

At Waheed’s trial the Serious Fraud Office prosecutors said the Luqman family had defrauded creditors of the company, including Barclays, Lloyds and Bank of Scotland between 2000 to 2006.

Investigators fear £104million was siphoned out of the company to family in Pakistan.

Shahid was described as the ‘prime mover’ in the scam, aided by Waheed in what was a ‘family fraud’.

Shahid Luqman launched La Societe Flagship Store in Lahore at M.M. Alam Road and houses world’s leading brands in it. Where he claimed he has 25 years of experience in fashion designing in UK.

Shahid purchased several properties in his native home town and other cities of Pakistan with the money he brought from UK.

He along with his family is enjoying his life in Pakistan and has no plan to return to UK.