‘Arrogant’ businessman transferred £3 million to avoid paying his debts

Businessman Tariq Sarwar has been jailed for fraud

19:24, 12 Jun 2026Updated 21:05, 12 Jun 2026

Tariq Sarwar(Image: Manchester Evening News)

An ‘arrogant’ businessman was jailed today (June 12) for ‘flagrantly’ flouting a disqualification order – and for hastily getting rid of £3 million weeks before his assets were set to be liquidated.

Tariq Sarwar, 59, and Christopher Francis, 40, were sentenced today for their involvement in the scheme which saw massive sums of money transferred to Mr Francis’ company – before being ‘filtered back’ to Mr Sarwar through companies linked to his family.

Manchester Crown Court heard today how Sarwar, of Gore Lane in Alderley Edge, had been hit with a Director Disqualification Order in 2013.

These orders ban individuals from acting as company directors or from having any involvement in management. But Sarwar went on to flout the order, choosing that very same to year to set up two more property management companies in his wife Zarka’s name, A Property Management and Willowloch.

Prosecution barrister Laura Kenyon told the court that Sarwar not only made his wife and son Mohammed Adil directors and sole shareholders of the companies – the latter when he had recently turned 18 – but had Zarka sign for and personally guarantee multiple high-value loans, with the businesses and properties as collateral.

One of these banks became aware of Mr Sarwar’s disqualification order, and were met with assurances that he and his wife were ‘estranged’ and he was not involved in the businesses.

Christopher Francis(Image: Manchester Evening News)

‘He was running the day to day business, attending meetings, arranging insurance, dropping off paperwork,” Ms Kenyon told the court. “He persistently and cynically used his wife and son as a front for these activities.”

These included the purchase of Langley Mill Business Park in Salford for £1.5 million in 2014, financed with a loan, and the old police station on Lee Street in Stockport, purchased for £630,000 and mortgaged with a £600k loan.

More loans and ‘large-scale refinancing’ followed, including a £945k loan in January 2019 secured against the assets of TNS Properties, another company of which Zarka was sole director.

But by this time, Sarwar’s companies owed ‘substantial debts’ to creditors, including £134,000 to HMRC, who began a winding-up petition – where the business is shut down and assets liquidated – in March 2018. Just three months later, Langley Mill Business Park was sold for £5.1 million.

Most creditors were paid off, apart from HMRC and one of Mr Sarwar’s business partners, who were still owed around £500k, the court heard.

But within nine days of the sale, he instructed his solicitors to transfer over £3 million to a food and drink wholesaler, KYCA, so that ‘there were no assets left’ by the time winding-up was complete in July.

Its sole director Christopher Francis, of Peacock Lane, Aylesbury, was then instructed by Sarwar to make ‘significant’ transfers to a total of six other companies, including around £645k to companies ‘clearly linked’ to the Sarwar family, including TNS Properties and NEL Holdings, prosecutors said.

Tariq Sarwar(Image: Manchester Evening News)

A further £748,980 passed through a series of other companies before ultimately finding its way back to Sarwar’s own family business, according to the Insolvency Service, who investigated Sarwar.

At interview Sarwar denied acting as director and claimed to have been acting under instruction. In 2021, Mr Francis was himself disqualified as a company director for six years after failing to provide accounting records for his business.

“Two days before he was due to have an interview with HMRC, he reported his vehicle as stolen,” Ms Kenyon said. “It was later found burnt out, a highly convenient fire in which all his account records were lost.”

The total £3 million was later declared void by HMRC, whose liquidators formally sued Zarka Sarwar and settled for a £280k payment.

Mr Sarwar was also sued by a creditor and forced to pay back £200k. The Insolvency Service said HMRC were eventually fully repaid and other creditors received a limited return on what they owed, with investigations underway to confiscate remaining funds.

Legal proceedings began and in January 2023 both pleaded not guilty to the charges against them. Sarwar changed his plea to guilty for one count of fraud anticipating winding-up and two counts of acting in contravention of a disqualification order this year. Mr Francis meanwhile pleaded guilty to one count of money laundering on the fourth day of his trial.

Mitigating, barrister Thomas Schofield KC said Mr Francis had ‘not been aware’ of the winding-up petition and ‘didn’t know’ that the money transferred to him was criminal. “He has a wife and four children and expresses bitter remorse at his offending,” his lawyer said.

“He is employed and wishes to start contributing to society again. He deserves to be punished but in the community.”

Andrew Horsell made a similar plea, saying Mr Sarwar had ‘dragged himself up by his bootstraps and made something of himself’ to support his family, including his wife who was said to suffer health issues.

“He is somewhat of a precarious position with debts, and could lose his family home,” Mr Horsell said. “I submit that public humiliation of unpaid work would be enough. It is difficult to imagine a further fall from grace.”

But presiding judge Peter Horgan rejected this assertion, jailing Sarwar for a total of four years for both offences, of which he is expected to serve 40 percent.

Christopher Francis(Image: Manchester Evening News)

“You were very experienced and successful businessman and knew exactly what you should not be doing,” he told Sarwar, who was casually dressed in a black hoodie. “These were sophisticated arrangements which you then took active steps to distance yourself from.

“You demonstrated a real arrogance, believing you could do whatever you wanted and choosing to ignore the order, not following rules or listening to advice.”

Sarwar gave no reaction as he was jailed and made no remarks to the half-dozen family and associates in the public gallery as he went with the dock officer.

Judge Horgan then handed Francis a 25 month sentence, suspended for two years, and 250 hours of unpaid work. “This sentence should hang over your head for that time,” the judge told him.

“Money laundering is a serious part of criminal activity. If you commit any offence in that time you will be back in front of me, do you understand?” ‘Yes, sir’ was the reply.