A family from London has been jailed on Monday over a multi million pound tax and money laundering fraud.
According to HM Revenue & Customs (HMRC), Isaac William, 61 from London, who ran a business supplying security guards to the construction industry, was jailed for failing to declare £5m of business profits and not paying the correct amount of tax due. His wife Venus, 54, and their three daughters Maria Gunasekara, 33, Sylvia William, 34, and Sophie William, 26, were also sentenced for laundering £1.3m from the business into their own bank accounts.
HMRC investigators said that between 1999 and 2008, Williams’ businesses Solomon Co-Operative Services, Chris Solo Co-Operative Services (CSCS) and Euro Co-Operative Services received income of £6m.
Isaac William submitted partnership, personal income tax, VAT and PAYE returns to HMRC declaring the income as £1m. Some of the undeclared profits were transferred from the business bank accounts into his wife’s and daughters’ personal accounts.
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