A convicted drug dealer who was recently released from prison has been thrown back in jail for money laundering and fraud.

Cory Ian Smith, 27, must also pay nearly £250,000 under the Proceeds of Crime Act and has had his home and £22,000 BMW repossessed.

The Edgware resident was sentenced to seven years in 2003 for drug and firearm offences, but was released on licence in September 2007.

Shortly after he was freed, police discovered Smith was breaking his release conditions by living at a different address to the one he gave probation officers.

As a result, officers from Brent Police's financial investigation unit searched his home and found the conman had fraudulently gained £242,000 in loans and mortgages, paying off the debts through money laundering.

Smith was arrested and charged with fraud and money laundering offences, before being jailed for 11 months.

Last month judges at Harrow Crown Court also ordered Smith to pay £242,000 under the proceeds of crime act.

DC Peter McIntosh, Brent Police Financial Investigation Unit said: "We are pleased with the result and hope this reassures the Brent community that criminals are not benefiting from their unlawful lifestyles.

"This criminal has lost his house and his BMW Car, he now has only his prison clothes and the cell he shares."

Brent Police's payback unit - a team that specialises in seizing money made through criminal activity - has taken over £300,000 from local criminals in the past six months.