Pensioner’s three years in jail for role in £1m tax fraud
A PENSIONER from Stoke Poges is the final member of a seven-strong gang who tried to steal more than £1m in tax to be sentenced.
John Faraday, 71, from Stoke Poges, was part of a nationwide gang which was investigated by HM Revenue and Customs (HMRC) after it attempted to submit fraudulent VAT repayment claims. He has been sentenced to three years and four months imprisonment for his part in the crime.
The gang hijacked the identities of five individuals and set up eight fake companies. It produced bogus invoices and contracts between each of the companies, some of which claimed to be buying and selling television broadcast rights for martial arts events, in order to generate fraudulent VAT repayments.
Between October 2010 and September 2012 the seven men, including Faraday, piggy-backed genuine cage fighting events, produced phoney promotional material and used the names of wellknown fighters to enhance the authenticity of their companies.
Anthony Swarbrick, assistant director of the Fraud Investigation Service, HMRC, said: “This was a fraud driven purely by greed with the single aim of extorting money which should have been spent on vital public services. This whole set up was a ruse with the sole purpose of stealing from the taxpayer.
“Now all seven members of this gang are paying the price for their fraud. We will look to strip them of their criminal gains, and the message is clear – tax fraud doesn’t pay.”
Con f iscat ion proceedings will follow to recoup the proceeds of their criminal activity.