Feeds

Chip fraud quartet jailed for VAT scam

'Missing traders' get nine years

  • alert
  • submit to reddit

Remote control for virtualized desktops

Four people have been sentenced to a total of nine years in prison for Missing Trader VAT Fraud.

The three men and a woman were sentenced at Southwark Crown Court late last week. They are Paul Andrew Ward from Leighton Buzzard who got six years and six months, Michael Stuart Keech from Northamptonshire sentenced to 12 months, Karina Clarke from Streatham, who got 12 months, and Paul Warren Sykes from Kent who was sentenced to 8 months.

The Customs investigation began in February 2002 when 25 properties were raided in the South-east, Midlands and North of England. Revenue Officers in Ireland also raided addresses.

Andrew Gilchrist, Customs Assistant Chief Investigation Officer, said: "These individuals committed a systematic attack on the VAT system. Customs is committed to stamping out VAT fraud and will continue to demonstrate that our capability can be a match for serious criminals engaged in fiscal crime."

Missing Trader Fraud involves registering a UK company for VAT. Once registered the company is allowed to import goods without VAT from other EU member states. The company then sells equipment on with the VAT added. They then disappear without paying Customs and Excise the VAT they owe them. The scam in this case involved importing computer chips from the Republic of Ireland into the UK through a network of companies.

Customs got extra funding to fight VAT fraud in November 2002. Revenue lost to this fraud fell for the first time in 2002-2003 by five per cent to between £1.64bn and £2.64bn. ®

Related stories

MPs slams Customs on suck it and see IT
Scottish dealer jailed for chip VAT fraud
VAT man claims five fraud scalps

Security for virtualized datacentres

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.