Jailed payroll cheats ordered to pay back £3.5m

Aaron Morby 6 years ago
Share

Two Kent men who funded lavish lifestyles through fraudulent payroll schemes have been ordered to pay back more than £3.5m within three months, or serve longer prison terms and still owe the money.

Ahmed and Sheerer face selling their assets to pay back £3.58m
Ahmed and Sheerer face selling their assets to pay back £3.58m

Accountant Aquil Ahmed, 61, and construction services company director Victor Shearer, 44 were jailed in October 2016 after they cheated HM Revenue and Customs of £6.9m in VAT, income tax, National Insurance Contributions and Construction Industry Scheme deductions.

During his trial the court heard Shearer laundered £1.2m through a Gibraltar bank account and spent money on property and high-living including ski-holidays and cars.

Ahmed owned a Bentley, bought properties in the UK, USA and Turkey, took multiple foreign holidays including trips to Dubai and the Monaco Grand Prix.

Shearer was convicted of conspiracy to cheat the public revenue and money laundering and was jailed for seven years and six months. Ahmed was jailed for seven years and eight months after admitting conspiracy to cheat the public revenue.

The pair now face selling their assets to pay back £3.58m after confiscation hearings at Maidstone Crown Court.

Ahmed must repay £2.9m within three months, or face a further five years in jail while Shearer must pay back £646,000 within three months, or face a further three years in jail.

The men attempted to hide their fraud by using a complex network of companies and bank accounts in the UK and offshore. But their crimes were uncovered by investigators from HMRC.

Ahmed’s ‘Keepers’ accountancy businesses ran the payroll for Shearer’s company ‘Leaner Logistics Limited’.

Shearer introduced other clients to the payroll company and use of the fraudulent scheme. Workers believed their taxes were being paid to HMRC, but instead they were lining the men’s pockets.

Nicol Sheppard, Assistant Director, Fraud Investigation Service, HMRC, said: “We do everything we can to stop criminals profiting from their crimes and to recover the money to fund the public purse.

“Ahmed and Shearer stole millions of pounds from the UK economy, using numerous UK and offshore companies to hide their fraud. They were driven by greed, abusing systems that are designed to ensure workers are paid correctly and taxes paid to HMRC.

“They are still serving their prison sentences and if they fail to comply with these orders they will spend even more time behind bars – and still owe the money.

Latest news

Geoffrey Osborne supply chain hit for £26m

More than 500 suppliers and subcontractors left holding unpaid bills
10 hours ago

SME contractors agree 4% pay rise for site workers

Workers will also get an extra day of holiday
7 hours ago

Labour to mothball £320m A27 job to fix potholes

Manifesto confirms Arundel Bypass canned as "poor value for money"
14 hours ago

Lendlease’s £1.9bn Smithfield Birmingham scheme approved

Initial work to start later this year despite questions over Lendlease's degree of involvement
15 hours ago

Crest Nicholson rejects £650m Bellway bid

Second Bellway approach rebuffed
23 hours ago

Hill submits £800m East London estate rebuild plan

Over 1,900 homes to be built in five phase at Teviot Estate in Poplar
1 day ago

Plan approved for 8,500-seat Edinburgh indoor arena

Construction expected to start next year once a contractor is appointed
13 hours ago

Statom starts on £25m Bristol Airport precast car park

Major work package on transport upgrade being overseen by Griffiths Farrans JV
1 day ago

Build problems plunge Crest Nicholson to a £31m loss

House builder unearths more defects on completed sites
2 days ago

Rebooted Amey lifts contract win rate to 1 in 3 bids

Amey chief says firm exceeded expectations in first year under new owners
2 days ago

BAM Nuttall fined £2.3m after worker drowned

Court hears how series of safety failures led to tragedy
2 days ago

OCU buys Scottish civils contractor RJ McLeod

Deal takes multi-utility infrastructure specialist revenue to over £800m
2 days ago

£220m plan to restore secret wartime tunnels approved

Tunnels under High Holborn to become cultural exhibition space
2 days ago

Galliford Try wins £69m Scottish school job

Deal sealed on Paisley Grammar School project in Renfrewshire
2 days ago

Balfour wins design for £690m Skye transmission job

Main work contract for 137km power line to be awarded later this year
3 days ago

Student and resi developer Fortis goes under

Cheshire based developer follows construction arm into liquidation
3 days ago

Construction output falls for third month running

Heavy rain and strong winds blamed for sharp fall in activity in April
3 days ago

Plan in for Leeds 27-storey block of flats

390 flats planned at former Morgan Sindall office site
3 days ago

Firms readied for £1.5bn Parliament estate upkeep deal

Invitation to tender due to go out next month
3 days ago

Amey switches kit supplier

Deal with HSS was worth £24.5m a year to rental specialist
3 days ago

Track workers scatter to avoid runaway rail trolley

Track trolley careers 1km towards work site
3 days ago

Direct delivery model pays off as Murphy profit soars to £67m

Group operating margin jumps from 3% to 5% in record year
4 days ago

Ex-Galliard boss to lead Battersea next building phase

Don O’Sullivan joins as plans advance to start phase 3C of power station redevelopment
4 days ago

£100m Digbeth 33-storey flats job out to bid

483 flats will be delivered for Clarion housing association
4 days ago

Van Elle fined £233,000 after piling rig kills driver

Court hears how tragedy was caused by poorly maintained plant
4 days ago

Renew buys utilities contractor Excalon

Infrastructure giant expand into electricity transmission market with £26m deal
4 days ago

Planning for new homes plunges to record low

Home builders call for urgent action from incoming government
4 days ago

JTRE starts £400m 21-floor London tower scheme

Office block and 64 affordable homes to be built at 220 Blackfriars Road site
4 days ago

R G Carter construction profits up despite 24% revenue fall

Selective client choice help profit jump to £6m from £1m previously
5 days ago

Refurbs power London office work to record high

London Office Crane Survey office work starts exceed 4m sq ft for record third quarter
5 days ago

Contractor services