A Cambridgeshire recycling company manager, who was jailed for VAT fraud, must pay back £217,224 or face two more years in prison.
Brian Brader, 36, formerly of Tithe Road, Chatteris, was jailed after a HM Revenue and Customs (HMRC) investigation found he used fake invoices to support his false VAT claims.
A court has now ruled £131,000 proceeds from the sale of a rental property Brader bought after taking £94,500 from the business should be confiscated along with two tainted gifts worth £85,000 to pay back the money.
Brader claimed to be exporting waste products such as cardboard and plastics to China and India through his firm NKB Recycling but HMRC checks on the company’s business records revealed fake invoices and fraudulent business records.
The investigation also revealed that Brader had drawn an £82,000 salary without paying any Income Tax or National Insurance.
Brader initially claimed all his paperwork for the VAT repayments were correct, but later admitted producing more than £350,000 worth of fake invoices for transactions that had never happened.
He admitted Cheating the Public Revenue and was jailed for four years in March last year, as well as being disqualified from acting as a company director for eight years.
He was ordered to pay back the proceeds of his crime at a confiscation hearing at Ipswich Crown Court yesterday, Thursday February 23. The court ruled he had benefited from his crimes by £1,142,451.