Nissan UK chief behind 'massive' fraud, court told
Wednesday 21 April 1993
The claim came on the first day of the trial of the company's managing director, Michael Hunt, on charges arising out of the alleged swindle.
Peter Rook QC, prosecuting, said it was an international fraud of 'truly massive proportions'. It was carried out over 17 years and involved the secret siphoning off of pounds 219m from the company's profits.
Mr Rook said that a warrant had been issued for Mr Botnar, but it had not been served as he was believed to be in Switzerland. He alleged that Mr Hunt, 59, with other 'sophisticated fraudsters' including Swiss bankers, laundered a huge amount through bank accounts in Geneva.
Mr Hunt, of Hove, East Sussex, has pleaded not guilty to two counts of conspiracy to cheat the Inland Revenue out of corporation tax and two of conspiracy to make use of false accounting documents between October 1975 and December 1991.
Opening the trial, which is expected to last six months, Mr Rook told the jury that between 1976 and 1991 approximately pounds 219m was extracted from Nissan UK, a completely separate operation from the Japanese car manufacturer Nissan Motor Company.
He claimed they did this by deliberately inflating freight charges - the cost of importing the vehicles into Britain - and making it appear the company's profits were that much lower.
In this way the alleged conspirators cheated the Inland Revenue out of pounds 97m, he said.
- 1 Katie Hopkins gives rare glimpse of sensitive side with heartfelt open letter to her children penned in case she dies from epilepsy
- 2 Rihanna's Met Gala dress took one Chinese woman 2 years to make, was reduced to omelette meme in 2 seconds
- 3 Top Gear: Jodie Kidd, Philip Glenister and Guy Martin 'in advanced talks' to replace Jeremy Clarkson and co
- 4 Frankie Boyle on Scottish independence: 'In the Interests of Unity, F**k Off'
- 5 Florida couple forced to register as sex offenders for having sex on public beach
Boston Marathon runner's search for mystery man she kissed ends with letter from his wife
Italian police 'reveal' what Jesus looked like as a young boy
Florida couple forced to register as sex offenders for having sex on public beach
Mysterious 'X-Files' sounds heard miles above the Earth
Met Gala 2015: Beyoncé manages to out-skimp Rihanna, Miley and Kim Kardashian with near-naked ensemble
In defence of liberal democracy
General Election 2015: Post-election 'shambles' looms as 70 per cent of voters say SNP 'should not be able to veto UK government policies'
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
iJobs Money & Business
£60000 - £70000 per annum + benefits : Ashdown Group: A highly successful, glo...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£27 - 35k + Bonus + Benefits: Guru Careers: A Management Accountant is needed ...
£40-50k + Benefits.: Guru Careers: A Project Manager / Business Analyst is nee...