logo
logo

ENTA founder Tsai gets banhammer as company director for 13 years

avatar
Tom Brown
img

Lucky for some, but not this guy after missing trader scam

Thirteen is certainly unlucky for Jason Tsai, one-time owner of distie Changtel Solutions UK – formerly ENTA Technologies ETL – as that's the number of years he's been barred from being a company director.

The disqualification was due to Tsai s participation in a VAT carousel – also commonly known as missing trader intra-community MTIC fraud – that left Changtel owing millions of pounds to HMRC, the Insolvency Service IS stated.

Between 29 June 2007 and 10 December 2010… Tsai caused or allowed Changtel Solutions UK to participate in transactions which were connected with the fraudulent evasion of VAT, such connections being something that Mr Tsai either knew or should have known about," the document stated.

In MTIC fraud, batches of products - usually chips or other relatively small, high value components - are shipped between companies in different parts of the EU.

The fraudsters charge VAT on the sale of the goods but do not pay this back to the relevant governments and then in most cases disappear or shut up shop.

collect
0
avatar
Tom Brown
guide
Zupyak is a the world’s largest content marketing community, with over 300 000 members and 3 million articles. Explore and get your content discovered.