- HMRC has sold five properties worth over £7.5 million that belonged to VAT fraudsters.
- The fraudsters, Syed Ahmed and Shakeel Ahmad, were jailed in 2007 for their involvement in a £12.6 million VAT fraud.
- They were ordered to repay £16.1 million but refused, resulting in additional prison time.
- HMRC tracked down their hidden assets, including a luxury house in Buckinghamshire, which was sold for £2.1 million at auction.
- The house had been obscured through an offshore company registered in the British Virgin Islands.
- In total, 21 individuals from the same organized crime gang have received prison sentences totaling 74 years for their role in the fraud.
- HMRC will continue to look for more assets to recover the stolen money.
- The other properties sold by HMRC include a flat in Battersea Reach worth £420,000, a house in Langley worth £660,000, and a flat in Knightsbridge worth £3,450,000.
Source: thisislocallondon.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
