Confiscation - calculating the benefit of an MTIC fraud | AccountingWEB

Confiscation - calculating the benefit of an MTIC fraud

Last month the Court of Appeal slashed the largest confiscation orders ever made in England & Wales.  The Crown Court had made orders of over £92 million each against Shakeel Ahmad and Syed Ahmed after they had been convicted of a 'carousel' or MTIC VAT fraud.  The Court of Appeal cut each order to just over £16 million, Ahmad & Ahmed v R [2012] EWCA Crim 391.  But in doing so did the Court of Appeal properly apply the wording of the legislation or did it allow itself to be excessively influenced by what it believed to be the underlying objective of confiscation?

In a new blog article HERE I suggest that neither the Crown Court nor the Court of Appeal have arrived at the correct figure of benefit in this case.


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Group: Money laundering and crime
A group for discussing issues relating to suspected money laundering and other crime