interestrateripoff Posted November 13, 2011 Share Posted November 13, 2011 http://www.thestar.co.uk/news/local/ex_cop_is_jailed_for_330m_vat_fiddle_1_3964142 A FORMER South Yorkshire police officer has been jailed for more than 10 years for an attempted £330 million VAT fraud - the largest of its kind in the UK.Nigel Cranswick, aged 47, served as a police officer between 1997 and 2005 until he set up Ideas 2 Go Ltd. He used the business as the front for his VAT scam by claiming the business sold more than six million mobile phones and had a turnover of more than £2.4 billion in just eight months. The former policeman and five others used details from hijacked or fictitious companies to produce thousands of invoices for sales of mobile phones and computer software, producing billions of pounds in fabricated turnover, which generated around £330 million in fraudulent VAT repayments. .... But the scam was identified by HM Revenue & Customs officials who noticed alleged sales for more than 50,000 mobile phones which had not been manufactured at that point. .... Exchequer Secretary, David Gauke said: “This Government will not tolerate dishonest people stealing public money. This sentence shows that those who try to commit fraud need to think again – HMRC will find you and the courts will punish you.” Of course the govt doesn't tolerate dishonest people stealing money, it calls it a bailout and gives them billions of pounds no questions asked. During recessions frauds get revealed, one wonders if this is just the tip of the iceberg. If they had been more careful it would appear they would have got away with this, seems a stupid mistake to produce an invoice for a phone that hadn't even been manufactured. Perhaps they assumed that it wouldn't get spotted with all the other receipts that where being submitted? Quote Link to comment Share on other sites More sharing options...
Redcellar Posted November 13, 2011 Share Posted November 13, 2011 http://www.thestar.co.uk/news/local/ex_cop_is_jailed_for_330m_vat_fiddle_1_3964142 Of course the govt doesn't tolerate dishonest people stealing money, it calls it a bailout and gives them billions of pounds no questions asked. During recessions frauds get revealed, one wonders if this is just the tip of the iceberg. If they had been more careful it would appear they would have got away with this, seems a stupid mistake to produce an invoice for a phone that hadn't even been manufactured. Perhaps they assumed that it wouldn't get spotted with all the other receipts that where being submitted? Already posted this story over at the off topic forums. http://www.housepricecrash.co.uk/forum/index.php?showtopic=171643 Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted November 13, 2011 Author Share Posted November 13, 2011 Didn't see it. Quote Link to comment Share on other sites More sharing options...
South Lorne Posted November 13, 2011 Share Posted November 13, 2011 http://www.thestar.co.uk/news/local/ex_cop_is_jailed_for_330m_vat_fiddle_1_3964142 Of course the govt doesn't tolerate dishonest people stealing money, it calls it a bailout and gives them billions of pounds no questions asked. During recessions frauds get revealed, one wonders if this is just the tip of the iceberg. If they had been more careful it would appear they would have got away with this, seems a stupid mistake to produce an invoice for a phone that hadn't even been manufactured. Perhaps they assumed that it wouldn't get spotted with all the other receipts that where being submitted? ...trust there have been some sackings at the HMRC VAT area for being naive and duped....lack of performance should be awarded accordingly ...we are paying them to collect ...not to act like fools.... Quote Link to comment Share on other sites More sharing options...
Redcellar Posted November 13, 2011 Share Posted November 13, 2011 Didn't see it. No worries. Off topic seemed the better place for it. Weird story though. They guy must be mentally challenged thinking it wouldnt be spotted. 9 months, several billion in sales. Kind of gets on the radar of HMRC. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted November 13, 2011 Share Posted November 13, 2011 what about the other 5? Quote Link to comment Share on other sites More sharing options...
opt_out Posted November 13, 2011 Share Posted November 13, 2011 What's the safe level for VAT fraud before anyone pays attention? £1m? £10m ? Quote Link to comment Share on other sites More sharing options...
South Lorne Posted November 13, 2011 Share Posted November 13, 2011 What's the safe level for VAT fraud before anyone pays attention? £1m? £10m ? ...well if it's down to a basic fine for forgetfulness..ask Vince.... Quote Link to comment Share on other sites More sharing options...
plummet expert Posted November 13, 2011 Share Posted November 13, 2011 (edited) Of course the govt doesn't tolerate dishonest people stealing money, it calls it a bailout and gives them billions of pounds no questions asked. During recessions frauds get revealed, one wonders if this is just the tip of the iceberg. If they had been more careful it would appear they would have got away with this, seems a stupid mistake to produce an invoice for a phone that hadn't even been manufactured. Perhaps they assumed that it wouldn't get spotted with all the other receipts that where being submitted? It is a fraud type carried out many times and no doubt this officer thought he was being clever. He would have done better to to have invoiced for a service which was not so easily detectable and for a more reasonable sum. Thatmay not be a fraud in some cases! What surprises me is that a cabinet mincester can rip off the public for actual money (not just attempt) to the tune of £40k in false expense claims and he is allowed to simply continue as an MP, just pay it back and all is forgotten! Why was David Laws not prosecuted for this totally obvious deception and fraud? I am sure if you or I fiddled expenses for even £1000 we would be prosecuted and fired. Edited November 13, 2011 by plummet expert Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted November 13, 2011 Author Share Posted November 13, 2011 No worries. Off topic seemed the better place for it. Weird story though. They guy must be mentally challenged thinking it wouldnt be spotted. 9 months, several billion in sales. Kind of gets on the radar of HMRC. Yep, several billion in sales for a new company!!! If this guy can do that legitimately he's a genius. Has anyone created company that has gone from nothing to this level of sales in such a short space of time? Perhaps he was gambling on the fact it was so big no one was going to question it. I wonder how long it could have gone on for if they hadn't screwed up with the phones? Although if he hadn't been so greedy and grew his company more slowly would it ever have been spotted? Quote Link to comment Share on other sites More sharing options...
davidg Posted November 13, 2011 Share Posted November 13, 2011 Kind of gets on the radar of HMRC. That's what they would like you to think. You are lucky he wasn't given a knighthood in the New Year's honours list for that kind of business performance. Quote Link to comment Share on other sites More sharing options...
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