BusinessPeople In BusinessCarousel fraudsters sent down for 34 years

Carousel fraudsters sent down for 34 years

Example made of four-man gang as authorities seek to clampdown on billion-pound scam industry 

Four men have received severe punishments for their part in a £10m
VAT
‘carousel’ fraud.

Durgesh Mehta, 51, was jailed for 10 years, while his co-conspirators Gerald
Reardon, 55, Matthew Sharman, 43, and Peter Ratcliff, 54, were each sent down
for eight years at
Canterbury crown
court.

After the quartet were found guilty of fraudulently reclaiming VAT for false
trades in mobile phones, Debbie Hayman, of HM
Revenue & Customs
said:

‘This sends out a clear message to those involved in missing trader, or
carousel fraud as it is commonly known, that we are committed to tackling VAT
fraud. Tax fraud is not a victimless crime, it is a criminal theft of revenue
needed to fund our country’s public services.’

Related Links:

Insider Business Club: technical
difficulties

Carousel fraud delays VAT registrations

Tycoon to pay out £18m after VAT probe

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