Seven arrested for £38m vat fraud
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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."
Wednesday, August 19 2009
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