Carbon trading gang jailed over VAT fraud | AccountingWEB

Carbon trading gang jailed over VAT fraud

A criminal gang who carried out a £38m VAT fraud in the carbon trading market through a chain of fraudulent trades has been jailed for a total of 35 years at Southwark Crown Court.

The case, thought to be first of its kind, comes after a three-year investigation by HM Revenue & Customs.

The gang set up a chain of bogus companies in order to trade fraudulently in European Union emissions allowances – known as carbon credits.


» Register now

The full article is available to registered AccountingWEB members only. To read the rest of this article you’ll need to login or register.

Registration is FREE and allows you to view all content, ask questions, comment and much more.