Scientist involved in Britain’s biggest ever tax fraud has 10 years added to sentence
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A scientist involved in Britain’s biggest ever tax fraud has had 10 years added to his jail sentence after he failed to pay back £11 million.
Michael Richards, 59, ran an investment scheme for sports stars, comedians and others.
Along with Jonathan Anwyl, 47 and three others, he told investors they would be eligible for tax relief and encouraged them to make claims to HMRC for a total of £107.9m.
The men convinced investors they were operating research and development projects in Brazil and China. It was, however, a sham and the group’s members were siphoning huge sums to their own “secret money box accounts” based in Switzerland and the Netherlands.
Innocent investors are believed to include Stanley Johnson, the prime minister’s father; former England football manager, Sven-Göran Eriksson and the singer Sophie Ellis-Bextor.
OF the £65m in cash subscriptions, the group stole £20m. In 2019, Mr Richards – who had been jailed for 11 years in 2017 – was told to re-pay £9,999,999, now £11.1m.
He has paid back just over £30,000.
He was ordered to serve another 10 years at Westminster Magistrates’ Court.
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