Jun 6th 2011
Two brothers faced a 6 year jail penalty after being found guilty at Croydon Crown Court for stealing more than £1.6 million through tax fraud and by thieving from their employees to finance their luxury lifestyles.
After carrying out a complex investigation into the brothers, HMRC found that they had made £1.3 million worth of fake VAT claims for various bogus companies and told 200 of their staff that £330,000 cash taken from their debit and credit cards was for national insurance and tax payments.
The brothers kept some of the cash for their own use, buying expensive cars and a high-spec television for every room in their shared house. HMRC prevented a further £320,000 being paid in other fraudulent VAT claims with their specialist investigation and confiscation proceedings against both brothers are ongoing.
Note: Every case is different and relates to its own specific circumstances, which may affect the severity of any prosecutions.