A Staffordshire man jailed for money laundering last year has been told he must pay back more than £98,000 within three months or face another 12 months in jail
Herbert Makrides, of Stoke-on-Trent, was jailed for 16 months in April 2017 after an investigation by HMRC revealed the self-employed businessman had laundered more than £270,000 received from VAT repayment frauds involving 20 sham companies. Makrides was also disqualified from being a company director for five years.
Now Stafford Crown Court has ordered Makrides to pay back £98,530 within three months, or serve an additional 12 months in prison and still owe the money.
Debbie Porter, assistant director, fraud investigation service, HMRC, said: ‘We prevent criminals from profiting from their crimes and recover the money to fund public services. Makrides went to prison for laundering criminal cash and he’s now facing the financial consequences too.’
Report by Pat Sweet