Millionaire’s secret insurance scam plot revealed in court

Secret recordings played in the Supreme Court trial of Perth Millionaire Hossean Pourzand have revealed the property developers cunning plan to pull off a $19.9 million insurance scam.

The two clips filmed on a mobile phone by Poursand's accomplice in 2017 run for more than 35 minutes and were recorded without the 65-year old's knowledge.

Pourzand can be heard asking his friend to burn down his Welshpool Warehouse, offering him $50,000 to get the job done, on top of 12 months free rent and a $120,000 loan.

"We know the risk. You know the reward" Pourzand is heard telling his accomplice, "I think tonight is the night..."

"Those shoes are okay. Put a cap on and you know, you just get a scarf that you cover your face..."

The blaze in March 2017 caused significant damage to the commercial building...and one day later Pourzand lodged an insurance claim.

Sentenced to more than seven years jail yesterday, the grandfather will have to serve five years and four months before he is eligible for parole.