An organised crime gang is believed to have created a chain of companies, claiming to sub-contract labour for construction projects, with the intent of disappearing before any tax was paid.
In the largest operation of its kind ever undertaken in Northern Ireland, HM Revenue & Customs (HMRC), supported by officers from the Police Service of Northern Ireland (PSNI), searched 31 business and residential properties in Belfast, Co Armagh, Co Antrim and Co Londonderry. They arrested 12 men and one woman.
Another man was arrested after two businesses and one private address in Stoke Newington were raided by HMRC accompanied by officers from the Metropolitan Police
Business records, cash and computer equipment were seized during the operation.
HMRC assistant director John Whiting said: “This investigation codenamed ‘Operation Concentric’ is targeting a suspected organised crime gang involved in sophisticated multi-million pound income tax and VAT frauds in the construction industry, and the associated laundering of the criminal profits.
“The frauds are believed to have resulted in the theft of millions of pounds of public revenue. Tax fraud and attempts to launder the proceeds of crime are key priorities for HMRC, and we will continue to pursue any individuals or crime gangs believed to be attacking the public purse in this way.”
The 14 are currently being interviewed by HMRC officers and investigations are continuing.
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