An investigation by HM Revenue & Customs (HMRC) discovered that Stuart Cleveland Price, 48, from Verwood in Dorset, had faked invoices to reclaim VAT to which he was not entitled. Based on his repayment claims, HMRC investigators were expecting to find invoices for more than £9m, when in fact only a fraction of this appeared in his trading records.
The companies were ECO Homes Constructions Ltd, formerly based in Wimborne, The Steel Frame Company Ltd and SIPS ECO Panels Direct Ltd, both based at Allens Lane, Hamsworthy, Poole.
The fraud was stopped after HMRC officers raided Price’s home and business address in June 2011 and removed his business records. They found that Price had traded for a number of years before he started to submit fraudulent VAT repayment claims.
HMRC assistant director of criminal investigation John Cooper said: “Price committed fraud over a number of years deceiving not only HMRC, but also the thousands of businesses who operate honestly and within the law.
“When he was asked for documentation to support the repayment claims, he produced bank statements that had been doctored with amounts that did not add up. He also provided invoices that had genuine headings but where the details were false.”
Stuart Cleveland Price was charged with three VAT fraud offences on 27 September 2012. He pleaded guilty at an earlier hearing and was sentenced at Bournemouth Crown Court on 22 February 2013 to 18 months in prison.
HMRC will be seeking to recover the stolen money in a confiscation hearing.
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