Businessman also faces charges over allegedly buying two yachts to launder moneyThe former BHS owner Dominic Chappell has appeared in court to face charges of a £500,000 tax fraud and that he allegedly bought two yachts to launder money. He faces three charges of cheating the public revenue and two counts of money laundering in concealing, disguising, converting, transferring or removing criminal property relating to his bankrupt finance company Swiss Rock Limited. The money laundering charges relate to funds from the company allegedly being used to buy two yachts. A further £230,000 was allegedly used to buy a second yacht called Maverick 6VI five months later. The charges allege Chappell failed to register Swiss Rock for VAT from the correct date, provided false or misleading information to HMRC and failed to correct the taxman’s assessment of how much tax was due.

Source: The Guardian June 18, 2019 12:52 UTC