This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/england/6093852.stm
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Four jailed over £10m tax fraud | Four jailed over £10m tax fraud |
| (5 days later) | |
| A £10m tax fraud case which led to four men being jailed was not a "victimless crime", HM Revenue & Customs has said. | A £10m tax fraud case which led to four men being jailed was not a "victimless crime", HM Revenue & Customs has said. |
| The men from Bucks, Essex, Kent and Surrey were convicted and jailed on Friday at Canterbury Crown Court over false VAT claims and money laundering. | The men from Bucks, Essex, Kent and Surrey were convicted and jailed on Friday at Canterbury Crown Court over false VAT claims and money laundering. |
| All four were disqualified from being company directors for 10 years. Two other men were acquitted. | All four were disqualified from being company directors for 10 years. Two other men were acquitted. |
| After the hearing, investigator Debbie Hayman said tax fraud was a criminal theft of public revenue. | After the hearing, investigator Debbie Hayman said tax fraud was a criminal theft of public revenue. |
| The assistant chief investigation officer said: "This sends out a clear message to those involved in missing trader, or carousel fraud as it is commonly known, that we are committed to tackling VAT fraud." | The assistant chief investigation officer said: "This sends out a clear message to those involved in missing trader, or carousel fraud as it is commonly known, that we are committed to tackling VAT fraud." |
| Criminal property | Criminal property |
| HM Revenue & Customs defines carousel crime as a scam in which criminals falsely claim VAT on high-value export goods - which may be fictitious and therefore never exported - and pocket the VAT repaid. | HM Revenue & Customs defines carousel crime as a scam in which criminals falsely claim VAT on high-value export goods - which may be fictitious and therefore never exported - and pocket the VAT repaid. |
| Durgesh Mehta, 51, of Chalfont St Peter, Buckinghamshire, was jailed for 10 years, for cheating the public revenue, money laundering, and conspiracy to transfer criminal property. | Durgesh Mehta, 51, of Chalfont St Peter, Buckinghamshire, was jailed for 10 years, for cheating the public revenue, money laundering, and conspiracy to transfer criminal property. |
| Find out how carousel fraud works | Find out how carousel fraud works |
| The court heard Mehta, a director of Virgini Ltd registered in Scotland, had submitted false tax returns in 2003. | The court heard Mehta, a director of Virgini Ltd registered in Scotland, had submitted false tax returns in 2003. |
| VAT repayments had been based on the purchase of mobile phones allegedly exported by the company to the Ukraine - the total VAT claimed was £10m. | VAT repayments had been based on the purchase of mobile phones allegedly exported by the company to the Ukraine - the total VAT claimed was £10m. |
| Gerald Readon 55, of Molash, near Canterbury, Kent; Matthew Sharman 43, of Langdon Hills, Essex; and Peter Ratcliff, 54, of Ashtead, Surrey, were all jailed for eight years for conspiracy to transfer criminal property. | Gerald Readon 55, of Molash, near Canterbury, Kent; Matthew Sharman 43, of Langdon Hills, Essex; and Peter Ratcliff, 54, of Ashtead, Surrey, were all jailed for eight years for conspiracy to transfer criminal property. |
| The court was told Readon and Sharmon laundered funds through an offshore company controlled by Readon called Gazelle Corporation Ltd. | The court was told Readon and Sharmon laundered funds through an offshore company controlled by Readon called Gazelle Corporation Ltd. |
| Money was also found to have been moved from Virgini Ltd to Fone Connection Ltd and Hatherley Enterprises Ltd - two companies controlled by Ratcliff. | Money was also found to have been moved from Virgini Ltd to Fone Connection Ltd and Hatherley Enterprises Ltd - two companies controlled by Ratcliff. |
| HM Revenue & Customs investigators from Dover uncovered the fraud in 2003 when they seized just under a million pounds in cash being delivered to Reardon and Sharman. | HM Revenue & Customs investigators from Dover uncovered the fraud in 2003 when they seized just under a million pounds in cash being delivered to Reardon and Sharman. |