British investor in Antigua arrested for tax fraud – Times Caribbean Online

British investor in Antigua arrested for tax fraud – Times Caribbean Online

Antigua Watchr:- Antigua and Barbuda investor Peter Virdee is currently undergoing an extradition hearing in the UK after he was detained at London’s Heathrow Airport on Tuesday in connection with a £100m VAT scam.

The 43-year-old British businessman, who has been designated as an investor in a 1,000-acre development and solar power plant in Barbuda, was detained under a European arrest warrant on behalf of German authorities.

Virdee, who is battling extradition, is expected to face multiple charges.

A Scotland Yard official told OBSERVER Media on Friday that Virdee appeared before Westminster magistrates on Wednesday and the extradition process began, which is expected to last several weeks.

“For Europeans, it could last up to eight weeks, but it depends on whether they have a strong legal case, and then it could go all the way to the Supreme Court. But it’s usually weeks rather than months. or years,” the official said in an interview.

Once extradition is successful, the specific charges will be determined by German officials, he said.

Prosecutors are investigating an alleged value-added tax (VAT) fraud scheme involving a series of transactions in carbon dioxide emissions certificates.

They said Virdee, believed to be one of the main organizers, used multiple aliases and was known within the group as “Batman.”

The so-called tax scam dates back to 2009 and 2010. So far, 13 people have been convicted as a result of the investigation.

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