VAT fraudster ordered to pay less as he is 'too poor'

Wednesday 12th April 2017 07:39 EDT
 

LONDON: In a rather surprising verdict, a criminal involved in a £250 million VAT fraud has been let of repaying the cheated money as he is too poor to pay. Nasir Khan was ordered to repay £14 million for his part in the organised crime. He reportedly used the money to pay for expensive properties in the UK and Spain, and buy luxury cars including a Ferrari, Lambhorghini, Bentley and a yacht.

HM Revenue and Customs said he lived the "lifestyle of an international playboy" at the expense of the taxpayer. Following a confiscation order by a judge and tax officials pledging to recover "as much as possible" of the cash, the Crown Prosecution Service has now told Khan that he does not have to pay.

Khan is one of 15 criminals jailed in 2011 for the "unprecedented £250 million VAT fraud" that took place between 2001 and 2003. The HMRC at the time said the operation had diverted "vital income from the UK's public services into the pockets of career criminals to fund their lavish and luxurious lifestyles."

A spokesman said, "Certificates of inadequacy are offered in the small number of cases where the sale of the individuals assets do not meet the original valuation. This could be down to any number of reasons, including third party litigation, the asset is in an overseas country where it cannot be realised or simply a fall in market value."


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