Fraudster jailed for three years for dodging over £1m in tax on Rolex watches sold on Ebay
A fraudster from the Louth area has been jailed for three years for dodging £1.25 million in tax on expensive items of jewellery like Rolex watches.
Darren Reay, 46, of Grimoldby, near Louth, was sentenced for falsifying import paperwork to show the Rolex, Cartiers and Breitlings watches as being worth as little as $50, rather than the thousands they are actually worth.
He admitted wrongly describing watches as low-value 'precision instruments' – enabling him to pay import VAT of just £7,805 during a four-year fraud uncovered by HM Revenue and Customs (HMRC).
Reay, who traded online via... read more
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