Grimoldby luxury watch dealer jailed for 1.25 million fraud

Grimoldby luxury watch dealer jailed for 1.25 million fraud
 

0 Have your say A luxury watch dealer, who dodged £1.25 million in tax by falsifying import paperwork to show Rolexes, Cartiers and Breitlings were worth as little as $50, has been jailed for three years.
Darren Reay, 46, of Grimoldby, Lincolnshire, admitted misdescribing the 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 eBay as Darren Reay Watches and also from Wight’s Watches in Cowes, Isle of Wight, used the money to fund a lavish lifestyle of... read more

 
30 September 2016 in Regional East, Views: 65
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