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Preacher jailed over £51m fraud Preacher jailed over £51m fraud
(30 minutes 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.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 pocketedVAT 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 TeareYou 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.