Electronics Retailer Gets 28 Months For VAT Fraud

Law360, London (September 27, 2019, 4:21 PM BST) -- A retail boss who dodged more than £194,000 ($239,000) in taxes to fund a lavish lifestyle has been jailed for two years and four months and barred from running companies, HM Revenue and Customs announced Friday.

Shezaad Karim, the director of electronics store MAK Digital (AA) Ltd., deliberately hid company sales, lied about his income to evade paying value-added and income tax and stashed the proceeds in a secret deposit box, the U.K tax agency said.

An HMRC investigation uncovered that Shezaad and wife Sabina Karim used the stolen cash to fund luxury holidays, home improvements, cars including a Land Rover...

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