VAT fraud businessman Israr Javid jailed for five years
A Glasgow businessman who was convicted of a £760,000 tax fraud has been jailed for five years.
Israr Javid, 43, used false invoices to avoid paying tax on computer components, which had been bought VAT-free in the Republic of Ireland.
During his trial last month, Javid was also found guilty of planning to defraud HM Revenue and Customs of a further £3.5m.
He now faces further action under proceeds of crime legislation.
During his trial, the High Court in Glasgow heard how Javid bought computer components in the Republic of Ireland on which no VAT was charged.
He then used false invoices claiming that VAT had been paid, saving his company £760,212 in VAT between November 2001 and March 2002.
When revenue inspectors investigated, they discovered that Javid had a set up a fraudulent scheme.
They also found that he intended to produce more false documents and submit a claim which would have saved him £3,484,923 in VAT.
Javid claimed he was trading legitimately and that the scam was in Ireland and not Scotland.
The jury, however, took less than an hour to find him unanimously guilty of two counts of VAT evasion.
Jailing him at the High Court in Edinburgh, Lord Uist told him: "I have to make it clear to those who defraud the Exchequer by engaging in this type of crime that they face significant sentences when brought to justice."
The judge also made an order preventing Javid from running a limited company for 10 years.