Barking man arrested in £40million alcohol fraud plot
PUBLISHED: 10:40 08 October 2014 | UPDATED: 10:43 08 October 2014
A 44-year-old man from Barking has been arrested as part of a suspected £40million alcohol fraud and money-laundering plot.
Dawn raids across the country saw 14 men and women detained yesterday on suspicion of diverting illegal alcohol and selling it in the UK, before laundering funds.
HM Revenue and Customs (HMRC) officials believes the group racked up £40million of fraud in evaded tax and duty, and those arrested played an “instrumental” role.
Cash totalling £650,000 and five lorry loads of beer and wine were also seized, along with computers and personal and business records.
Alan Tully, assistant director of criminal investigation at HMRC, said: “This is a major investigation into what we suspect is a well organised and professional attempt to launder the proceeds from a significant alcohol fraud and steal £40 million from the UK economy.
“We are committed to stamping out alcohol fraud, which drains around £1bln from public finances each year, affecting public services and legitimate retailers who have to compete with the illicit market.”
An investigation is currently underway.
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