RBS Must Pay For Carbon Credit VAT Fraud, Judge Says

Law360, London (March 11, 2020, 6:36 PM GMT) -- The Royal Bank of Scotland could be on the hook for tens of millions of pounds after a London judge found that two former carbon credit traders turned a blind eye to a massive value-added tax fraud scheme and then lied at trial to cover their tracks.

High Court Judge Richard Snowden ruled Tuesday that the Royal Bank of Scotland, which recently changed its name to NatWest Markets, was liable to a number of defunct companies hit with massive tax bills on the credits for dishonest assistance and knowingly being a party to fraudulent trades between two former employees and CarbonDesk,...

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