Tax Scammers Get 40 Years In Jail For £34M Fraud
Law360, London (May 24, 2019, 5:09 PM BST) -- Six men were sentenced to prison terms ranging from five to eight years at a London court on Friday for cheating the government out of more than £34 million ($43 million) through a “sophisticated fraud” using 19 companies that illegally collected value-added tax refunds for alcohol sales.
Judge Michael Grieve said the six men operated what is known as a “missing trader fraud,” which exploits tax rules for goods and services on cross-border transactions within the European Union. The scheme involved “cheating the public revenue and laundering the proceeds” over two years, from 2013 to 2015.
Investigating officers from HM Revenue...
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