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A
number of items were seized, including computer hard
drives, mobile phones, business records and accounts.
Officials
said the initial estimate of the amount involved was £2million
but the final figure is expected to be much more.
Investigators
believe a network of companies has been trading in
precious metals such as platinum, purchased VAT-free in
Europe and then sold on in the UK with falsified paperwork
to cheat the tax system.
Regarded
as the precious metal for the "New Millennium",
platinum is said to be 30 times rarer than gold and costs
around £200 an ounce.
The
white metal is mainly produced in South Africa and Russia.
Speaking
after the operation Martin Greening, HM Revenue and
Customs head of criminal investigation North West, said
they were committed to stopping "ruthless
attacks" on the VAT system.
The
other raids were in Altrincham, Bradford, Preston,
Leicester and Sheffield. However Customs officers refused
to name the addresses which were searched while
investigations were ongoing.
Mr
Greening said that the trade in precious metals is low
volume but high value, as a small amount of metal is worth
a large amount of money, making it a potentially
attractive sector for abuse.
He
said: "Tackling VAT fraud is one of HMRC's top
priorities.
"We
have a duty to stop money being diverted and stolen from
the nation in what are often large scale and ruthless
attacks on the VAT system.
"The
searches are the result of a lengthy investigation by
dedicated officers who work tirelessly and diligently,
fighting criminal attacks on the tax system.
"The
sophistication of the organised crime gangs behind these
frauds means that our investigations are increasingly
complex but we are committed to bringing the criminals
responsible to justice and to recovering the money stolen
from the British taxpayer, wherever in the world our
investigations lead.
"This
is not victimless crime, it's organised crime that causes
real harm."
No
arrests have been made but inquiries are continuing.
Blackburn
jeweller Phil Ainsworth said a licence was needed to
import platinum.
He
said: "You do hear rumours of people importing it
illegally, but we only deal with reputable suppliers and
you know where you are getting it from."
Audley
ward councillor and businessman Salim Lorgat said the
current VAT system was open to abuse.
He
said: "I used to run a furniture exportation business
and understand the system very well.
"
There are unscrupulous people that will trade without
passing the VAT on.
"This
is a scam that's going on all over the country and we are
hearing more and more about it.
"I
remember seeing a programme a few years ago about people
bringing in precious metals from Holland.
"The
problem is there is a huge market for things like
expensive 22 carat gold within the Asian community here in
Blackburn.
"The
profit margin on it is only one or two per cent so people
are obviously exploiting VAT as a means of increasing that
profit."
Source
: This Is Lancashire - Blackburn, England, UK, dated
29/02/2008
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