“I think it might be part of a wider fraud organised by certain political elements…”

The Irish Times reports from Ennis Circuit Court where a 33-year-old sub-contractor has been jailed for six years, with the final year suspended, after a jury convicted him of a €680,000 VAT fraud between January 2001 and October 2003.  From the Irish Times report

Retired Revenue official Michael Downey said yesterday an estimated €15 million went through Floyd’s bank account between July 2001 and June 2004, with almost €7 million lost to the State through VAT payments of €1.6 million and €5.25 million in relevant contracts tax.

Mr Downey said Floyd was not the scam’s main mover, but “this fraud could not have been undertaken without Mr Floyd”.

He added: “Mr Floyd agreed to participate in the regime for financial gain and he did advise on how the financial scheme would work.”

Mr Downey said Floyd claimed VAT refunds of €683,138 and received refunds from the State of €415,536. Floyd’s fee to the others involved for taking part in the scam was the VAT plus 10 per cent, he continued.

Mr Downey said he did not know who the originator of the fraud was. “I think it might be part of a wider fraud organised by certain political elements, but I have no evidence to sustain that.”

Alex Owens SC, prosecuting, said Floyd “cooked the books at both ends” to conceal the fraud.

Mr Downey said the prosecution took place “after a massive investigation” but no other person had been before the courts in relation to the fraud. One of the other participants was dead, “with another disappearing out of the jurisdiction”.

Hmm…

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  • cynic2

    Political elements? How intriguing.

    We know it cannot be SF as ‘you cant be a Republican and a criminal’ so just who could he mean?

  • tacapall

    Your ears must have pricked when you heard “fraud organised by certain political elements” Pete. Dont worry about evidence, just because its your post we can all assume you believe its connected to Sinn Fein, there’s no chance of those thieves in FF being involved.

  • PaulT

    Get the feeling they might mean that other republican party Pete, afterall it looks like he was set up by a crowd of builders who then legged it abroad.

    Probably hatched the plan in a tent at the Galway races

    http://www.irishtimes.com/newspaper/ireland/2012/0330/1224314098255.html

    “Mr Owens said it had been suggested that Floyd was an innocent abroad, “but from beginning to end he is a person who was acting with full knowledge”.

    He added: “He was not some Forrest Gump of the building contracting trade. He was a full participant knowing full well what he was at in relation to each of these things.”

    However, in his closing speech, defence counsel Anthony Sammon said his client was in court “as a sacrificial lamb to show that the Revenue is doing its job”.

    Mr Sammon said Floyd was 22 at the time of the alleged offences, when he was “targeted by cunning and manipulative elements and used and abused”.

    He said the court had heard that other builders involved had left the country and he asked: “Who is here with all of the mess in his life but the unfortunate Derek Floyd?”

    He added: “When a person ends up as the only person who has been brought to book and when you know there are a lot of other persons involved and they have not been brought to book, it does lead to this: doesn’t the very fact that he is so evidentially exposed in terms of the paper trails – doesn’t that speak volumes in terms of the man’s naivety, gullibility and vulnerability to being exploited in this way?”

  • Reader

    tacapall: Dont worry about evidence, just because its your post we can all assume you believe its connected to Sinn Fein, there’s no chance of those thieves in FF being involved.
    I thought the reputed FF MO was simply to get the arm in, to take bribes, or to do a bit of property fraud? This is a wee bit different.
    And you wouldn’t be playing the man would you? Pete never said who the revenue officer was hinting at – it’s interesting either way – or even if it’s FG.
    However, I am intrigued by this bit of the original {One of the other participants was dead, “with another disappearing out of the jurisdiction”.}
    It would be interesting to know those names, wouldn’t it?

  • Dec

    I would submit that the key phrase is ‘but I have no evidence to sustain that.’

  • tacapall

    {One of the other participants was dead, “with another disappearing out of the jurisdiction”.} Hmm..

    There’s enough there Reader to hint what direction Pete’s pointing the finger at and dead people not being able to defend themselves like.

  • Reader

    tacapall: There’s enough there Reader to hint what direction Pete’s pointing the finger at and dead people not being able to defend themselves like.
    Shouldn’t you be blaming the Irish Times report for any finger pointing? Almost the entire blog post was a quote from the report following a reference to the report.
    And wouldn’t it be a funny coincidence if you and Pete both secretly suspected the same crowd?

  • cynic2

    My how they squirm

    Murder was Ok. Fraud isnt