Clare man accused of €255m VAT fraud

An Irish-born company director accused of conspiring to cheat the revenue of £162m (€255m) of VAT appeared in court in Britain today.

Dylan Creaven, 29, of De Vere Gardens, Kensington, central London, also faces a further charge of money laundering.

The businessman is alleged to have been involved in a “carousel” fraud in which his company, Silicon Technology Europe, moved computer processing units back and forth between Ireland and the UK but avoided paying VAT.

Creaven, originally from Ennis, Co Clare, was arrested on Tuesday following a joint investigation by the gardai and Irish customs officers, who worked with British Customs and Excise authorities.

Creaven, who appeared in court wearing a dark pinstripe suit and blue shirt, spoke only to confirm his name, age and address.

No application for bail was made and he was remanded in custody until next Wednesday.