A company director accused of conspiring to cheat the Revenue authorities of £162 million sterling in VAT payments appeared before West London Magistrates' Court yesterday.
Mr Dylan Creaven (29), of De Vere Gardens, Kensington, central London, also faces a further charge of money-laundering.
The businessman is alleged to have been involved in a "carousel" fraud in which his Irish-based company, Silicon Technologies Europe Ltd, moved computer processing units back and forth between Ireland and the UK but avoided paying VAT.
Mr Creaven, originally from Co Clare, was arrested on Tuesday following a joint investigation by the Garda and Customs and Excise officers, who worked with the British Customs and Excise authorities.
Mr Creaven spoke in court only to confirm his name, age and address. No application for bail was made and he was remanded in custody until next Wednesday.
