Couple commits billion euro fraud
A couple from the Limburg town of Lanklaar is reported to have conned the British Treasury out of millions of euros
December 12 2007 - A Flemish couple from the Limburg town of Lanklaar is reported to have conned the British Treasury for millions of euros. The couple is suspected of falsely having bought a huge number of mobile phones In Britain and setting up a VAT-fraud.
The suspects are believed to have written out fake invoices worth more than a billion euros for mobile phones they were supposed to have bought in Britain.
The couple bought a huge number of mobile phones in the UK and recovered VAT on each of the appliances because they then exported them to the Netherlands. Under Belgian law, the VAT on purchased goods that are intended for export can be re-claimed.
In reality, the mobile phones circulating between Britain and the Netherlands were always the same ones.
“As the export was purely fictitious, the couple made huge profits,” Peter De Buysscher of the federal police says.
The couple has been arrested while Belgian, Dutch en British detectives are continuing their inquiry. In the same case, a female Limburg accountant was being held in custody but she has already been released.