Feeds

Mobile fraudsters sentenced

22 years for VAT scam

The essential guide to IT transformation

Four people found guilty of VAT fraud were sentenced for a total of 22 years at Maidstone Crown Court late last week.

The four fraudsters engaged in missing trader fraud, where goods are sourced VAT-free from within the EC and sold on with VAT added. The trader then disappears before paying the Inland Revenue the VAT.

For two years the gang bought and sold mobile phones and diddled the Revenue out of an estimated £40m.

Stephen Pigott, a 42 year-old musician from Dubai, was described as the gang's "leading light" and was sentenced to nine years. Ex-New York judge and music lawyer Stacey Haber-Hofberg of Liphook received a six year sentence. Two others were sentenced to 42 months each. The judge said the fraud was "audacious and outrageous" but that the real mastermind had not been brought to justice.

Meanwhile, the Office of National Statistics has warned that its monthly figures on the UK's trade deficit may be skewed by VAT fraud.

The ONS said the UK trade deficit grew in July to £5.08bn from £4.17bn in June. But it is still working on a way to remove fraudulent transactions from the trade tally. Until this is achieved the agency warns it cannot have full confidence in the accuracy of its figures.®

Next gen security for virtualised datacentres

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
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?