File photoA Dunedin businessman who spent six years defrauding Customs says it was the "stupidest thing he’s ever done in his life". While the lengthy fraud involved the defendant underpaying more than $1.3m in tax, calculations showed he would have only benefited by up to $15,000 because of GST refunds. Counsel John Westgate said the charges had ultimately had a disastrous financial impact on Clarke’s finances. The scam gave his company, P L Clarke Ltd, "a significant cash-flow advantage over competitors", court documents said. In May 2019, a Customs audit of Clarke’s import business reviewed 25 imports over seven years.

Source: Otago Daily Times July 14, 2021 04:41 UTC