Thursday 6th August, 2015

Six people, including a financial adviser, have been arrested as part of an investigation into a suspected £4 million Pay As You Earn (PAYE) tax evasion and money laundering fraud.

Officers from HM Revenue and Customs (HMRC), supported by West Mercia Police, and Border Force searched six premises in Telford and Wolverhampton last week and arrested the four men and two women.

Richard Wentel, Assistant Director, Criminal Investigation, HMRC, said:

“This is an investigation into suspected tax fraud on an industrial scale, attacking the PAYE system and associated money laundering. A self-styled financial adviser and five others have been arrested in connection with the investigation of which we believe involves the theft of PAYE payments collected from the employees of a number of companies in the West Midlands and Shropshire areas.

During the operation four domestic addresses, five vehicles and two business premises were searched and property including: computers, mobile phones, business records, and several high performance vehicles were seized pending further enquiries. Two arrests were made at Birmingham Airport as the individuals re-entered the UK.