Oleg Aliev, Rovina Maqsood, Mohammed Khawaja and Bakrat Ali own properties in Govanhill in the south of the city but have been banned from renting them out. They face criminal prosecution and a £50,000 fine if they attempt to act as landlords in the future.

Mohammed Ilyas Anwar and Siroosh Bavarsad also had their applications refused.

Anwar helped steal £15 million from Natwest Bank when he and five others exploited a flaw in the bank that allowed them to withdraw cash from cheques before they bounced.

The money was laundered using fake IT and mobile companies with bogus business deals, then wired to a Latvian bank.

In 2008, Anwar was sentenced to 51 months in prison for his role in the operation that took place in January 2004. Since he was released from prison in 2010, Anwar has not been disclosing his criminal past in his applications every three years to be a landlord.

Council officers noticed his previous address as HMP Kirkham in his application and decided to review his status as a “fit and proper person”.

Speaking to Anwar in Glasgow’s licensing committee court room, convener Alex Wilson said: “It’s your responsibility to tell us of any convictions. You got them in 2008, so you have had plenty of time to tell us at one stage that you have been convicted and sentenced to 51 months in prison.”

Mr Wilson added: “Tenants across Glasgow are entitled to have confidence in the people they rent property from and we will always take the necessary action.”