HMRC claws back record £92.3m from fraudsters

Syed Ahmed of Buckinghamshire and Shakeel Ahmad of Middlesex, both currently serving seven year jail terms for the fraud, were jointly ordered to repay £92.3m within two months. The two men will each face a further ten years in prison if they fail to abide by the order, as well as still having to repay the money. The gang bought luxury houses in London, high performance cars, and built blocks of flats in Dubai after stealing £37.5m in a ‘missing trader' VAT tax fraud. HMRC investigations began in April 2002 into the fraud which involved manipulating the VAT system through t...