Adviser on trial for part in £262m celeb-backed tax fraud

The Times reported that Norman Leighton, 65, allegedly used his Monaco-based company to give the appearance that up to £262m was being invested in the scheme. He was paid £300,000 for his role in the deception. The international operation took advantage of government tax breaks for the film industry to create the appearance of huge "paper" losses, Birmingham crown court was told. Investors in the schemes included pop stars, politicians and aristocrats. Patrick Harrington, QC, for the prosecution, said that the potential loss to the taxman of the "audacious fraud" was £100m.   ...