TICKETS TO HIDE Touts change names as they face probe

SUNDAY MIRROR

TICKET touts have been changing their company names as their industry faces another probe.

Some of the biggest online sellers rebranded after being highlighted in a Sunday Mirror campaign.

We urged the Government to stop sport and music fans being ripped off by secondary ticket sales way above face value.

Andrew Newman, one of the country’s most successful touts, changed the name of his company from Newman Corporation to North Financial Group last July – only a month after we highlighted his activities.

He also recently posted accounts showing his new firm had assets of £1.6m in 2015, up from £1.1m on the previous year.

Gail Riedel, director of 1st Choice Tickets, changed to WRT Services on December 8.

And Ticket Wiz boss Peter Hunter, rebranded as BZZ Ltd on December 21.

Two days earlier the Competition and Markets Authority also announced that it planned to investigate the controversial industry. After the Sunday Mirror first highlighted the issue, some touts removed tickets from resale sites but others carried on.

I Want Tickets listed 81 for U2’s summer gig at Twickenham on StubHub with a combined face value of £8,144.03 for £15,380.

In other cases, tickets are advertised as being sold by individuals or firms not registered at Companies House.

ASSETS

Experts also believe the industry could owe £100m unpaid tax. MPs on the Culture, Media and Sport Committee have called on HMRC to investigate touts’ tax affairs. Reg Walker, of ticket security firm The Iridium Consultancy, said: “There has been a major under-reporting of profits and assets.” I Want Tickets could not be contacted and Newman and Riedel failed to comment on name changes. BZZ owner Peter Hunter said the name change was “to stop punters contacting us about gig times and venues.” .