Director spared jail for €340k Vat fraud

An 81-year-old company director who failed to pay almost €340,000 in Vat returns which had been paid to his company by customers was given a two-and-a-half-year suspended jail sentence yesterday.

Michael Grimes of Kilpatrick, Innishannon, Co Cork, was sentenced at Cork Circuit Criminal Court.

None of the money was ever sent to Revenue. Judge Brian O’Callaghan said this was an aggravating factor in the case.