East Sussex man jailed for part in £120million fraud
Geoffrey Hayes of Denmark Villas, Hove, pleaded guilty to cheating the public revenue, contrary to common law contrary to section 1(1) of theCriminal Law Act (1977). He pleaded guilty at Southwark Crown Court on May 24 and sentenced at the same court to three years and six months in jail on yesterday (September 6)..
The Berkshire-based gang that stole £34 million in VAT and laundered £87 million after selling illicit alcohol have collectively been jailed for more than 46 years.
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Hide AdNine fraudsters, headed up by Jayesh Shah, Riaz Khan, Fiaz Raja and Muhammad Rasool, orchestrated a missing trader (MTIC) VAT fraud. Gang members then laundered the stolen
tax and the proceeds from selling illicit alcohol.
The group created a complex chain of paperwork detailing fictitious transactions, which wereused as a cover for the illicit sale of smuggled alcohol.
Evidence showed £87m was laundered through more than 50 bank accounts in Britain,Cyprus, Hong Kong, Dubai and other foreign countries.
A HM Revenue and Customs (HMRC) investigation found the gang operated from an office in Eton High Street, and then moved to Windsor during the two-year fraud.
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