Indian-Origin Businessman Jailed For Tax Fraud In UK


(Agencies) London:  A 54-year-old Indian-origin businessman in the UK has been sentenced to three years in prison for non-payment of 500,000 pounds in tax on earnings from bars here and tried to hide money in an offshore firm.
Gurkirpal Singh Bance, also known as Dave Bance, was found guilty of two counts of tax fraud last month and sentenced at Woolwich Crown Court yesterday. He had built up a lucrative London business empire called The Bance Group, which he claimed included its own airline and other ventures worth over 80 million pounds.After an investigation by UK government’s tax office – Her Majesty’s Revenue & Customs (HMRC) – it emerged that the majority of Bance’s companies were not registered for value added tax (VAT), or he had only paid minimal amounts to avoid any suspicion of fraud.