"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "


Chinese premier Wen Jiabao 12th March 2009


""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."


Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Friday, September 28, 2007

Another fucking thieving VAT carousel fraudster locked up - Harjit Singh Takkar, he stole £4.5 Mn. in 3 months from taxpayer.

Harjit Singh Takkar, 32, of 9 Lampton Park Road, Hounslow, TW3 4HS was convicted and sentenced today to 7 years in the slammer on three counts; Conspiracy to Cheat the Public Revenue (seven years imprisonment), Cheat (three years imprisonment) and Fraudulent Trading (two years imprisonment). The sentences will be served concurrently.

He stole £4.5 million from the taxpayer by a sophisticated VAT fraud.In the 2 months between May 2004 and August 2004 trading as Hi-Profile Ltd, he purchased mobile phones and computer chips from suppliers in France. In a maze of transaction VAT was reclaimed ending up in Dubai . One exporter even re- claimed VAT again on the exports.

In one instance an export was traced to a German company from whom Takkar's suppliers had allegedly purchased phones indicating this was part of the fast growing European wide dimen sion to this sort of fraud which is milking the public purse faster than Gordon Brown can piss it up against the wall on Trident, aircraft carriers, bailing out Metronet, Northern Rock , seeing North Sea oil revenues decline, fines paid by DEFRA to the EU, Tax Credit cock-ups and expanding the prisons.

Of course the money will never be recovered - at least he is pretty low on the Alisher Usmanov Richter scale of stealing from the public purse.

It's time for some Ayurvedic masage from Toni Fabuloso or the lady who shares the saintly Mr Usmanov's home and life, young Alina (pic).

13 comments:

Anonymous said...

I don't blame Takkar; I blame the government. Actually Takkar might even have been working for the government.

On 28 November 2002 the Guardian reported

"The government is to recruit a team of crack investigators to help the chancellor meet his commitment to "root out abuse of the VAT regime". Customs & Excise is recruting specialist officers from the secret service, army and police who will be trained to track down the sophisticated gangs cheating the government out of billions.

A specific initiative, titled Protecting Indirect Tax Revenues, is designed to save £2bn a year of lost VAT by 2005-06 by tackling avoidance and fraud more agressively.

In particular, the elite invetigations will be targeting the "missing trader" fraud, which costs around 2.6 billion pounds a year."

That was a good idea. However, VAT fraud escalated to 8 billion pounds in 2005/2006

Fortunately, a breakthrough came in 2006 when according to The Guardian of 21 September 2006, a small team of Customs investigators decided not just to investigate indivdual carousel fraudsters, but to follow the money trail, resulting in the closure of the FCIB after it was found that every individual arrested and charged with so-called carousel fraud in the last two years had an account there.

So between 2002 and 2006 the specialist officers from the secret service, army and police did not realise that it might be a good idea to follow the money trail?

Has Gordon Brown and the secret services got a whole wad of our money offshore?

Anonymous said...

"Has Gordon Brown and the secret services got a whole wad of our money offshore?"

I doubt GB would be allowed to get a look in but as for the other lot ...

Anonymous said...

He did control the Treasury, didn't he?

Anonymous said...

"Everybody fighting VAT fraud in Europe knows that [it] all links back to the UK," said a senior Belgian investigator who wanted to remain anonymous. "It's a cancer that has spread out from the UK across the EU."

Shutter said...

Takkar is merely one cog in an enormous interlinking European web of drugs money, VAT fraud, quiescent para-mlitary groups in the island of Ireland, and people trafficking from Eastern European CSR states and the Baltic that is growing rapidly and has links globally with Africa, South America and Russia.

Whilst there have been successes, recovery of money is negligible and the efforts involves armies of people, probably 10,000 across the EU.

The level of funds is so huge that official corruption is inevitable.

Shutter said...

Incidentally the article by Paul Lashmar in the Independent of 24th September 2006 quoted above, used a figure of EUR 40Bn. for EU wide VAT fraud based on in formation from Eurocanet an EC official body.
Dawn Primarolo, Paymaster General whose job it the was to collect taxes dismissed these figures as "not credible" ..... it is noticeable that the Treasury has either stopped preparing figures for Carousel fraud or simply just doesn't publish them for the UK. The figure which seems to represent current thinking in HMRC (informally) appears to be "about" £200Mn. per month.

Anonymous said...

YANNIC HULOT, FISCAL CO-ORDINATOR RESEARCH, BELGIAN FINANCE MINISTRY

Mr Hulot - At the moment the Eurocanet network is a very good detection method but for one year we have had no data from the UK, they do not want to participate and we do not know why. The UK is the one that is of more concern and we have contacts but we have no data, no feedback about the missing data

Anonymous said...

What the hell is going on here? No investigations into the money trail, no help to our EU partners to try and stop VAT fraud!

Anonymous said...

I read somewhere that Bush was taking money out of the USA behind the back of the public.

Anonymous said...

you cant convict one individual if its a carousel fraud. All companies involved should be pursued and it should be verified whether all companies involved were knowingly involved in th fraud aspect. It is possible to be involved in a chain of traders without knowing that there is scam to be taken place at the end. BESIDES IT'S CUSTOM'S NEGLECT THAT OFTEN LEADS TO THE LOSS. THEY SHOULD NEVER HAVE PAID OUT THE VAT CLAIM TO THE EXPORTER.

Anonymous said...

Yes, I agree. Their investigations as far as I've seen don't extend to the exporters even though the exporters appear countless times as prosecution witnesses in VAT fraud cases. To say that the exporters don't know what's going on is ridiculous.

Anonymous said...

The worst thing of all is that the skilled investigator at Griffins who uncovered the whole scam involving Harjit Takkar & Hi-Profile Limited continues to be the subject of bullying & harassment by Martin Freeman, Stephen Hunt, Kevin Goldfarb, Paul Fletcher,Shabbar Dhalla, Susan Skudder, Neil Davies and many others.

When will these nasty lying deceitful racist bastards be brought to justice.......?

Anonymous said...

Who are these named people?, Martin Freeman etc.....

(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish