Feeds

Missing trader fraudster goes missing

Missing trader missing

  • alert
  • submit to reddit

A VAT fraudster went on the run from Bristol Crown Court last week shortly before being convicted for his role in an £800,000 tax fraud.

Nasser Ahmed, from Hounslow, London, was facing charges of defrauding Customs and Excise out of more than £800,000. Ahmed was out on bail and when the jury left the court to consider its verdict he left too...and kept going. He was seen on CCTV footage leaving the court building with his wife and one other person.

He was facing charges along with Urfan Ahmed, of Westbourne Road, Easton, who pleaded guilty and will be sentenced next month. The court found Nasser Ahmed guilty of one charge of cheating the public revenue and one of furnishing a false document. The judge issued a warrant for Nasser Ahmed's arrest.

The two were accused of running a carousel or missing trader fraud. Computer chips were bought and imported from Luxembourg, without VAT. The chips were sold on, often at a loss, with VAT added to UK customers.

Nasser claimed in court that he had sold his share in the company to his friend Urfan Ahmed and did not know he was engaging in fraud.®

Related stories

VAT man claims five fraud scalps
Chip VAT fraud gang sentenced to 31 years
Customs arrest 39 in £120m VAT sting

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
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.