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Man jailed for five years over VAT fraud
Derek Floyd claimed €680,000 in repayments which he was not eligible for.
A MAN HAS been sentenced to five years in prison for tax fraud totalling hundreds of thousands of euro.
Derek Floyd, from Tulla, Co Clare, claimed €683,138 in VAT repayments which he knew he was not eligible for.
Among these were two single payments of €156,136 and €143,682 respectively.
He was also convicted on 15 charges of knowingly submitting incorrect VAT returns. Floyd pleaded not guilty on all counts, but was convicted in March on 27 charges altogether.
At a sentencing hearing at Ennis Circuit Criminal Court today, he received three years jail for one count of falsely claiming VAT and another three years with one suspended for a second.
Speaking in court, Judge Ray Fulham stated that revenue fraud is not a victimless crime.
For the remaining 25 offences, Judge Fulham handed Floyd another three-year sentence. However, this will run concurrently so will not add to his total time behind bars.
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