Max Power Posted March 19, 2015 Share Posted March 19, 2015 Still think a modern day Bergerac style drama based here, with emphasis on how we deal with modern money and technology crime would be a great little serial drama. The good guys would always win, of course. Lots of posh boats and planes money trails, the odd bent official bought to justice - sort of thing. Plenty of story lines to be had at the local customs office I'd bet. I actually thought the same thing, it could be quite open ended but you'd have to have some pretty dodgy characters involved to make it interesting. The government might baulk at the idea? Link to comment Share on other sites More sharing options...
JessTickle Posted March 19, 2015 Share Posted March 19, 2015 (edited) ^^^ I think the scale of this is probably why the investigation has taken so long, and probably the necessity to actually catch the hand(s) in the cookie jar. It would be a waste of time to spend one year on an investigation and have someone off scot free, when, if you do the job properly and take your time you could ensure they all do an extremely long stretch. The cross jurisdiction situation will no doubt have added to the time taken as everyone will have had to get their ducks in a row before anyone could make a move My gut feeling is that there is a lot more to come on this one yet ETA response to hillshepherd, max power jumped in whilst I was typing :-) Edited March 19, 2015 by JessTickle Link to comment Share on other sites More sharing options...
Flubbergump Posted March 19, 2015 Share Posted March 19, 2015 From what I can see, and know of the companies involved, the reason its cross jurisdictional is we are dealing with an entity under whos umbrella fall a number of UK and Manx registered businesses. Which of those particular businesses are the focus of the investigation is open to speculation but as some work in what is a constantly changing grey area of legislation, I will put my money in there. As for the money laundering charges, those seem like tack-ons to increase the scope the police have in terms of their investigative powers. The VAT fraud investigation, though the central tenet of the investigation, is not half the PR issue for the Island that the implied money laundering is. Thats the dirty word politicians want to see as thats the one they can sell to an electorate as evidence of criminal behaviour in a "Tax Haven". Link to comment Share on other sites More sharing options...
Mr Shoe Posted March 19, 2015 Share Posted March 19, 2015 So, having read through this thread, picking up on the various clues... ...is it Allan Bell? lol Link to comment Share on other sites More sharing options...
x-in-man Posted March 19, 2015 Share Posted March 19, 2015 Don't think so, according to the register of interests, he owns nowt. Link to comment Share on other sites More sharing options...
Flubbergump Posted March 19, 2015 Share Posted March 19, 2015 I wonder how many more squeaky bums there are in the Athol St vicinity just at the moment....? From chats I had yesterday, not many. Those companies operating in the same field feel they have been in compliance with the law on this for a while and its the one "Bad Egg" that flaunted the legislation who has been caught. That said, it may be bluster and their compliance teams may be working behind closed doors to ensure a tightening of procedures very shortly. Link to comment Share on other sites More sharing options...
Mr Shoe Posted March 19, 2015 Share Posted March 19, 2015 ...its the one "Bad Egg" that flaunted the legislation who has been caught. That said, it may be bluster and their compliance teams may be working behind closed doors to ensure a tightening of procedures very shortly. This isn't a tax evasion/avoidance/dodging issue. Nor compliance. This is laundering. A totally different animal. 3 Link to comment Share on other sites More sharing options...
Flubbergump Posted March 19, 2015 Share Posted March 19, 2015 ...its the one "Bad Egg" that flaunted the legislation who has been caught. That said, it may be bluster and their compliance teams may be working behind closed doors to ensure a tightening of procedures very shortly. This isn't a tax evasion/avoidance/dodging issue. Nor compliance. This is laundering. A totally different animal. Yes it is. The central investigation is based on the VAT fraud. Laundering is a by product of criminal behaviour, rarely the starting point. 1 Link to comment Share on other sites More sharing options...
j2bad Posted March 19, 2015 Share Posted March 19, 2015 Yes it is. The central investigation is based on the VAT fraud. Laundering is a by product of criminal behaviour, rarely the starting point. And the Vat fraud is based on? Link to comment Share on other sites More sharing options...
Flubbergump Posted March 19, 2015 Share Posted March 19, 2015 (edited) Yes it is. The central investigation is based on the VAT fraud. Laundering is a by product of criminal behaviour, rarely the starting point. And the Vat fraud is based on? VAT fraud generates a criminal gain. Laundering is the process of disguising the proceeds of crime as something legitimate. You need to have illegally generated assets first in order to launder them. The original crime is the VAT fraud. Investing those proceedst into, for example , property purchases and then selling the property so it looks like the funds came from a legitimate source is Laundering. Edited March 19, 2015 by Flubbergump Link to comment Share on other sites More sharing options...
Mr Shoe Posted March 19, 2015 Share Posted March 19, 2015 Laundering is the process of disguising the proceeds of crime as something legitimateThat part of your post is correct at least. 1 Link to comment Share on other sites More sharing options...
Flubbergump Posted March 19, 2015 Share Posted March 19, 2015 Laundering is the process of disguising the proceeds of crime as something legitimateThat part of your post is correct at least. Im really curious now as to what your definition is of VAT fraud. Enlighten us. Link to comment Share on other sites More sharing options...
Lisenchuk Posted March 19, 2015 Share Posted March 19, 2015 You'd best ask the Manx Govt to define VAT fraud. I reckon they're quite familiar with the subject. 5 Link to comment Share on other sites More sharing options...
Max Power Posted March 19, 2015 Share Posted March 19, 2015 Sometimes there is a very thin line between fraud and avoidance. Some of these schemes are probably quite legal but the person who originates the idea probably couldn't afford the legal fees to fight HMRC. Once the full resources of a government are launched against you, your chances of winning are slim! 1 Link to comment Share on other sites More sharing options...
woolley Posted March 19, 2015 Share Posted March 19, 2015 Sometimes there is a very thin line between fraud and avoidance. Some of these schemes are probably quite legal but the person who originates the idea probably couldn't afford the legal fees to fight HMRC. Once the full resources of a government are launched against you, your chances of winning are slim! But such schemes walk a fine line. Jumping through a loophole is not in the spirit of the law in my book and is just the same as breaking it, as in the case of the labyrinthine structures put together by multinationals to avoid corporation tax. For me, if you trade in the country, you pay the prescribed amount of tax in that country on the business you do there. Simple. 3 Link to comment Share on other sites More sharing options...
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