Published: 18:39, 19 August 2009 |
Updated: 09:43, 10 January 2014
Seven people have been arrested in Gravesend and Greater London as HM Revenue and Customs investigate an alleged £38 million VAT fraud operation.
It is thought to have involved the trading of emissions allowances - with an organised crime group operating a network of companies trading in large numbers of the so-called carbon credits.
Around 27 properties have been raided and officers believe other arrests are likely.
Those arrested are believed to be part of an organised crime group operating a network of companies trading large volumes of high-value carbon credits.
Les Beaumont, deputy director of criminal investigation for HM Revenue & Customs (HMRC) said:
"HMRC investigates all criminal attacks on the tax system, halting theft of revenue, gathering evidence and supporting prosecutors in bringing offenders before the courts.
"We always aim to recover the proceeds of crime, restoring that money to the public purse where it belongs. That is our intention in this and all similar cases.
"The Government took decisive action to prevent this type of fraud recurring by zero rating carbon credits for VAT."
Every morning at 10am we play you an hour of tunes from the 90s. We call it, #WeLoveThe90s.
Play 'Say It' with Garry and Laura on kmfm Breakfast and you could win £1,000!
Wake up to kmfm Breakfast with Garry and Laura - it's Kent's alarm call.
A guide for your future. For year 11 students in Kent and Medway. Click here for the e-edition.
Education, Training & Childcare is a special supplement published by KM Media Group four times a year. Click here for latest e-edition.
Get the latest food and drink news, recipes from some of the nation's top chefs plus updates from Kent's vineyards and breweries.
Search in your local area to find your perfect partner in Kent, with FreshStart Dating! PLUS, register for free!.
Neil Miller, Hever Castle head gardener is new gardening blogger.
Buy pictures that you've seen in a KM newspaper, or send in a picture and we will place it on our photo sales website so that you can purchase a super, unique gift.