Prosecutors in Spain confirmed they were seeking custodial sentences for Doug Barrowman
Tory peer Michelle Mone’s businessman husband could be facing a lengthy jail sentence if found guilty of fraud charges in Spain. Billionaire Doug Barrowman has been charged with crimes including corporate tax evasion.
Prosecutors allege it was created to evade tax and take millions of pounds out of a Spanish company to put in their pockets. The company went bankrupt four years later, costing 200 workers at a cable factory near Santander their jobs. The couple deny wrongdoing. The National Crime Agency raided their homes and offices in London and the Isle of Man in April as part of an investigation into the deal. The Spanish case centres on a payment of €6.3m by now-defunct Spanish company B3 Cable Solutions Spain to UK firm Axis Ventura in 2008. Axis had raised funds to buy B3, a cable plant based near Santander, which went bust in 2012.
The tax deduction was just over €1.6m and the rest of the €6.3m declared as donations, according to court documents. The businessmen have insisted the payment was lawful and for genuine services, but their attempts to stave off prosecution was rejected by an appeals court, paving the way for the indictments drafted by prosecutors.
"For the tax crime the prison sentences prosecutors are seeking vary from three years to two years and six months. The indictment also calls for them to reimburse B3 Cable to the tune of €6.3m and the Spanish Treasury €508,590 .”
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