First arrest over furlough fraud

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.

For more information on bankruptcy, liquidation, administration and all the other insolvency procedures, or to take advantage of our free consultation and business health check, please telephone Stella Flemmings on 01377 257788, 01724 230060 or 01904 520116 and she will make you an appointment with one of our insolvency professionals at our Driffield, Scunthorpe or York offices.  Meetings can be held virtually or in any of our offices whilst observing the socially distancing guidelines.

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