A businessman from the West Midlands is thought to be the first to be arrested on suspicion of a £495,000 furlough fraud.
All his assets have been seized and his bank account frozen whilst HMRC look into his business. He is also suspected of a multi-million pound tax fraud and money laundering offences.
HMRC report that they have “had in excess of 4,400 reports of suspected fraud in respect of the furlough scheme”.
HMRC are asking any employees who suspect their employer of furlough fraud to become whistle blowers.
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