Allianz reacts to fraud sentence

Insurers are fighting a constant battle against people who see insurance fraud as a victimless crime. Putting in an exaggerated or even completely bogus claim is seen by some as getting one over insurance companies. In fact they are cheating honest customers because of the impact on insurance premiums. Allianz was recently involved in a high profile case after boxer Randal Barlow had his £35,000...

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Jail for company director who engineered £5.9 million tax fraud

A North East engineering company boss has been jailed for more than eight years for a £5.9 million tax fraud. Stanley Miller, of South Grange, Lane Head, Ryton, stole millions of pounds by pocketing his staff’s tax deductions and using phoney invoices to claim VAT repayments, an investigation by HM Revenue and Customs (HMRC) revealed. The 57-year-old pocketed £5,952,339.57 in VAT, Income Tax and...

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A Financial Hub in the Mediterranean: Malta’s booming Insurance Sector

Despite its miniature size, Malta has several big names set up on its shores when it comes to insurance. Recently, the number of applications for licences has increased, as UK-based brokers seek to safeguard their assets within the EU. Many organisations are looking towards Malta as a result of the island’s attractive legislation and pro-business regulator, the Malta Financial Services Authority...

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British dairy farmers to benefit from a £64m (70m euros) million share of a £245m (290m euros) pot as Arla farmers conclude final vote in favour of pay-out

Arla Foods, the UK’s biggest farmer-owned dairy company, has announced that its British owners will receive a total of £64m (70 million euros) as their 2018 year-end bonus from a European wide pay-out of £245 million (290 million euros). Last night the payment was agreed by the company’s Board of Representatives, which is almost wholly comprised of elected farmer owners and includes 23 British...

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VAT fraudster fails to dodge justice with forged hospital report

A crooked accountant who tried to escape justice by forging a medical report from a Cypriot hospital has been jailed for a £400,000 VAT scam. Rakesh Sidhpara, of Wheatmoor Road, Sutton Coldfield, claimed more than 100 fraudulent repayments through hijacked businesses and fake firms, an investigation by HM Revenue and Customs (HMRC) found. Sidhpara tried to delay his own trial in September last...

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