A man who masterminded a £240,000 tax fraud has been imprisoned for three and a half years.
Michael Akindele, 50, from Surrey, has been convicted of setting up a bogus catering firm in order to fraudulently claim vast sums in VAT payments.
Working alongside five other individuals, the group had laundered substantial sums of cash through their bank accounts.
Investigators from HM Revenue & Customs (HMRC) had moved in after uncovering evidence that the gang of fraudsters had stolen an entirely blameless individual’s identity in order to launch their operation.
It eventually transpired that Akindele had set up a number of other fake enterprises, including a newsagents and IT consultants to perpetuate the fraud.
Brett Wilkinson, assistant director of HMRC’s fraud investigation service, said: “This gang thought they were above the law and that they could get away with cheating the system. They were wrong and they are paying the price for their greed.”
The gang was sentenced at Kingston Crown Court earlier this week.
Akindele’s five accomplices, all of whom lived in London or the South East, received suspended prison sentences and community orders.