Police today broke up a £10 million sterling tax fraud involving large companies in the Northern Ireland construction industry.
Four people were held during a series of planned raids in Belfast, Co Down and Co Derry. More arrests were expected as officers examined allegations of the criminal misuse of industry tax certificates involving up to 20 firms.
The operation, mounted by detectives and the Inland Revenue, came after an investigation spanning months. Police in Scotland and Wales also searched a number of premises, but the focus was firmly on Northern Ireland, where the racket was centred.
A dozen commercial and residential properties were targeted in Belfast; Dungiven, Co Derry; and Rostrevor and Downpatrick in Co Down. Twelve properties in Scotland and one in Wales were also searched. It is understood that, with no tax or national insurance being paid, the alleged culprits have been illegally purchasing construction industry tax certificates from a network of sub-contractors in other parts of Britain. Up to 100 police officers were involved in the searches.
PA