The Channel logo


By | Kat Hall 13th July 2015 08:05

Dodgy mobe dealer jumps on VAT carousel, gets 13-year ban

UK govt 'committed to making directors account for their actions'

The director of now-dissolved mobile phone dealer Fima Consulting has been disqualified from managing a limited company for 13 years over his part in a £1m VAT scam, according to a UK government press release.

Fiaz Razzak Malik was disqualified following an investigation by the Official Receiver at the Public Interest Unit, a specialist team of the UK's Insolvency Service.

The unit became involved in the case over the winding up of the company in January 2013 for unpaid VAT to HMRC of £646,768.

The investigation found the company and Malik had been involved in a Missing Trader Intra Community fraud (MTIC), and commonly known as “carousel” fraud, where fraudulent businesses trade high-value, low-bulk goods to obtain large amounts of VAT on the transactions.

"This type of VAT fraud is very serious and a high priority for HMRC and the Insolvency Service," said Paul Titherington, from the ORPI unit.

"MTIC fraud has been a great strain on the public purse and has cost the tax payer many billions of pounds in fraudulent VAT claims. The Insolvency Service is committed to making directors account for their actions," he added. ®

comment icon Read 19 comments on this article or post a comment alert Send corrections


Frank Jennings

What do you do? Use manual typwriters or live in a Scottish croft? Our man advises
A rusty petrol pump at an abandoned gas station. Pic by Silvia B. Jakiello via shutterstock

Trevor Pott

Among other things, Active Directory needs an overhaul
Baby looks taken aback/shocked/affronted. Photo by Shutterstock

Kat Hall

Plans for 2 million FTTP connections in next four years 'not enough'
Microsoft CEO Satya Nadella


League of gentlemen poster - Tubbs and Edward at the local shop. Copyright BBC
One reselling man tells his tale of woe