A woman has been forced to sell her property portfolio after being found guilty of conspiracy to launder money and mortgage fraud.

Ruth Smith-Ajala, 46, a Nigerian national of Redlands Way, Lambeth, was jailed in December 2013 for her part in conning students out of more than £1.5m.

She has three months to pay back almost £630,000 after admitting that she made £1.2m from her crimes.

The mortgage fraud was in relation to seven houses which Smith-Ajala was renting out in Gravesend, Northfleet, Chatham, Grays and Catford.

The Metropolitan Police Central Crime Finance Team launched a financial investigation and along with the Crown Prosecution Service obtained a restraint order for the properties and froze her bank accounts to stop her from selling the houses and hiding the money.

The confiscation proceedings mean Smith-Ajala must sell the houses and use the proceeds to pay the confiscation sum.
Detective Inspector (DI) Pete Ward, of the Met’s Central Criminal Finance Team, said he won’t stop at seeing criminals convicted for their crimes.

"It is ironic that Smith-Ajala helped defraud hundreds of students while paying for one of her own children to be privately educated,” said DI Ward.

"She has just three months to pay back the money she obtained, or face a further five years in prison.

“If she doesn’t pay the money by the time she is out of prison, the order will remain and her finances will be scrutinized to ensure she continues to pay up."