A director at a components distributor, Silicon Technologies Europe, has had a bail application refused as he awaits his next court hearing concerning alleged VAT fraud.
Dylan Creaven was arrested last November and remanded in custody after appearing at the Old Bailey in connection with alleged VAT fraud estimated at £162m (CRN, 9 December).
His arrest followed a joint operation, code-named Operation Chipstick, between HM Customs & Excise, the Criminal Assets Bureau, the Irish police and the Irish Revenue Officers of Customs Enforcement.
Creaven was to appear in court last week for a further hearing, but papers are still being served on the case, a Customs representative told CRN.
Creaven was charged with conspiracy to cheat the Revenue in relation to VAT under section 1(1) of the Criminal Law Act 1977, and money laundering offences under section 93 C(1) (B) of the Criminal Justice Act 1988.
No one from Silicon Technologies Europe was available for comment.
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