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| Version 1 | Version 2 |
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| Preacher jailed over £51m fraud | Preacher jailed over £51m fraud |
| (about 1 hour later) | |
| A lay preacher who bought himself a lordship has been jailed for 10 years for a £51 million VAT scam and stealing from personal injury claimants. | A lay preacher who bought himself a lordship has been jailed for 10 years for a £51 million VAT scam and stealing from personal injury claimants. |
| Malcolm Edwards-Sayer, 49, from Bramcote, appeared at Nottingham Crown Court to admit eight counts of conspiracy to cheat the public revenue. | Malcolm Edwards-Sayer, 49, from Bramcote, appeared at Nottingham Crown Court to admit eight counts of conspiracy to cheat the public revenue. |
| An investigation by HM Revenue and Customs uncovered the "carousel fraud". | An investigation by HM Revenue and Customs uncovered the "carousel fraud". |
| Edwards-Sayer manipulated the VAT system through the import and export of goods over a 10-month period. | |
| He was jailed for six-and-a-half years for the fraud and a further three-and-a-half years for stealing £18,000 from injury claimants passed on to him by Claims Direct, a charge he also admitted. | He was jailed for six-and-a-half years for the fraud and a further three-and-a-half years for stealing £18,000 from injury claimants passed on to him by Claims Direct, a charge he also admitted. |
| VAT pocketed | VAT pocketed |
| The court heard that Edwards-Sayer set up a number of companies from his home, imported mobile phones and computer chips from EU countries without VAT - and then sold them on with VAT added through a chain of companies. | The court heard that Edwards-Sayer set up a number of companies from his home, imported mobile phones and computer chips from EU countries without VAT - and then sold them on with VAT added through a chain of companies. |
| After being sold on a number of times, the equipment was then exported back to the EU. | After being sold on a number of times, the equipment was then exported back to the EU. |
| The companies would then go missing before the VAT inspectors had the chance to get the cash. | The companies would then go missing before the VAT inspectors had the chance to get the cash. |
| Jennie Kendall, of HM Revenue and Customs, said: "Basically the fraud is importing usually high-value small goods from the EU, VAT-free. | Jennie Kendall, of HM Revenue and Customs, said: "Basically the fraud is importing usually high-value small goods from the EU, VAT-free. |
| You were diligent and dedicated in your dishonesty Judge Jonathan Teare | You were diligent and dedicated in your dishonesty Judge Jonathan Teare |
| "Once they're in this country they're then sold on with the VAT added, and that can happen a number of times through a whole chain of companies. | "Once they're in this country they're then sold on with the VAT added, and that can happen a number of times through a whole chain of companies. |
| "Then the companies go missing before paying the VAT over to the government which would otherwise fund services vital to the taxpayer." | "Then the companies go missing before paying the VAT over to the government which would otherwise fund services vital to the taxpayer." |
| Having bought himself a Lordship, Edwards-Sayer set up an offshore bank account in the name of Lord Houghton to siphon off money. | Having bought himself a Lordship, Edwards-Sayer set up an offshore bank account in the name of Lord Houghton to siphon off money. |
| At the time of his arrest Edwards-Sayer was lecturing in law at South East Derbyshire College and was also a part-time lay preacher with the Diocese of Southwell. | At the time of his arrest Edwards-Sayer was lecturing in law at South East Derbyshire College and was also a part-time lay preacher with the Diocese of Southwell. |
| Passing sentence, Judge Jonathan Teare said: "You were diligent and dedicated in your dishonesty." | Passing sentence, Judge Jonathan Teare said: "You were diligent and dedicated in your dishonesty." |
| He added: "People who enter into this sort of conspiracy only do so because they expect the rewards to be spectacular, and I have no doubt that this was both your expectation and your desire. | He added: "People who enter into this sort of conspiracy only do so because they expect the rewards to be spectacular, and I have no doubt that this was both your expectation and your desire. |