- Daniel King set up fake underwear firm to sell underpants imported from China
- Firm, ‘D-briefed’, was a front to swindle taxpayers by making fake VAT refunds
- King from Swansea in Wales, admitted fraud and was jailed for two years
Daniel King was jailed after setting up a fake underwear company to con the tax payer out of £57,000
A conman has been jailed after setting up a fake underwear company and swindling the taxpayer out of £57,000.
Daniel King, 34, from Swansea in Wales, told authorities that he set up his firm ‘D-briefed’ to import designer pants from China and then re-sell them in the UK.
But he was jailed for two years and three months, after his Y-front scam was exposed by customs investigators.
Fraudster King used his company as a front to make fake VAT refunds, Swansea Crown Court heard.
He could not produce any documents proving he intended to trade – and the court heard his business was set up simply to conceal his tax fraud.
King admitted making up the figures for 10 fraudulent VAT claims, totaling £57,564.
Recorder Peter Griffiths QC told him: ‘I am satisfied that you went into this with your eyes wide open and that you knew full well you were acting fraudulently.
‘You have gained financially, dishonestly and deliberately and it would be an affront to the public if you were not immediately deprived of your liberty.’
HMRC fraud investigation assistant director Colin Spinks, said afterwards: ‘King blatantly abused the tax system by setting up a company for the sole purpose of stealing money that should have funded public services.’
He said the HMRC were now ‘working to recover the money he stole.’