Armed thief to pay victims just £9,000

The Crime Prosecution Service had been seeking almost £1 million from five members of the gang who led a four-month crime wave across region between October 2010 and January 2011.

They escaped with luxury cars and goods worth hundreds of thousands of pounds.

A Proceeds of Crime hearing is being held at Wolverhampton Crown Court where prosecutors have been seeking to recover £180,000 each from Waheed Zaman, Imran Zaman of Edwards Street, Birmingham, Lewis Richards of Brockwell Road, Kingstanding, Ryan Jones and Qaiser Rashid.

This included a £4,000 diamond encrusted watch owned by Jones who is an ex-Coventry City footballer.

But during a hearing yesterday representatives of Waheed Zaman, formally of Calshot Road, Great Barr, who was described as the gang's leader when sentenced to 10 years in March 2012, reached an agreement with prosecutors which meant that the crook would pay just five per cent of the original figure the crown had sought.

Mr Stephen Thomas prosecuting said: "Of all the defendants that are here today we have an agreement in place for Waheed Zaman. He benefited from £41,740 but the receivable assets are £9,000.

"It is the crown's position to seek the money and it will be paid in compensation to the victims of these robberies."

The case continues while the CPS tries to recover money from the other four defendants.

Yesterday Jones, aged 23,from Watermere, Shelfield, Walsall, was in the dock. Financial investigators claim his part in the conspiracy saw him benefit from just over £44,000.

The court was told when his home was raided by police they found a diamond encrusted watch worth £4,000. However Jones told the hearing it was a 21st birthday present from his mother.

The case continues.