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HMRC arrests adviser-led group in £4m fraud investigation

27 Jul 15

Six people including a financial adviser have been arrested as part of an investigation into a suspected £4m pay as you earn (PAYE) tax evasion and money laundering fraud.

Six people including a financial adviser have been arrested as part of an investigation into a suspected £4m pay as you earn (PAYE) tax evasion and money laundering fraud.

With the support of West Mercia Police, HMRC officers searched six premises in Telford and Wolverhampton to arrest four men and two women.

The group have been arrested in connection with an investigation which involves the theft of PAYE payments collected from the employees of a number of companies in the West Midlands and Shropshire areas.

Two of the individuals were made at Birmingham Airport as the individuals returned to the UK.

Richard Wentel, assistant director of criminal investigation at HMRC, said: “Tax fraud is not a victimless crime and every year costs millions of pounds in lost revenue that should be funding public services.

Tags: HMRC | UK Adviser

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.