A high level fraudster who skipped his trial and fled to Dubai has been ordered to pay more than £37 million – and faces 10 years in prison if he fails to pay. He played a major role in this missing trader fraud, which involves the theft of Value Added Tax from the government. He was part of a conspiracy to use a network of companies and a huge number of transactions to cover up the theft of VAT. The term “missing trader” is used because the fraudster has gone missing with the VAT.
Source: gov.uk
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