A company boss who was jailed for masterminding a £110 million fraud has been ordered to pay back some of his ill-gotten gains.
Max Fraser is serving eight years and eight months for his central role in one of the largest "asset-backed" frauds ever seen in the UK.
The 45-year-old and accomplices obtained loans worth £110 million between 2001 and 2007.
He told the lenders the money was to pay for machinery at his plastics firm in Leicester.
But the equipment was not ordered and instead Fraser used the money to fund a jet-set lifestyle.
He was jailed in January 2012. The sum obtained amounted to £111 million, though the actual loss to the lenders was estimated at £53 million.
Now, a court has given Fraser six months to pay more than £300,000 to some of the firms he tricked.
If he does not pay in time, he will receive a further jail sentence of three-and-a-half years.
Leicestershire Police obtained the forfeiture order under the Proceeds of Crime Act during a hearing at Northampton Crown Court last week.
The force examined Fraser's finances and found he had available assets of £306,254.
Paul Wenlock, who runs the force's economic crime unit, said: "Fraser had a company yacht and took flying lessons.
"He lived the high life, while his actions put at risk the jobs of those who worked legitimately at his firm.
"This order shows police are determined that criminals will not get to enjoy the fruits of their crimes."
The fraud was committed while Fraser was running Nylacast Limited.
The company was later sold and still exists. The firm has no connection with the fraud, has never gone bust and enjoys a good reputation.
Fraser admitted conspiracies to defraud financial institutions, false accounting and fraudulently trading.
Formerly of Gaulby, later of Main Street, Ufford, Lincolnshire, Fraser was also banned from acting as a company director for 15 years.
Also part of the conspiracy were David and Elizabeth Liversidge, of Constable Burton, North Yorkshire, who were found guilty of conspiring with Fraser to commit false accounting.
The couple ran Stoke-on-Trent business HTL Limited and received about £6 million from Fraser for producing 900 bogus invoices, which Fraser then used to persuade banks to loan millions.
Leicestershire Police said it would apply for the forfeiture of their assets.
