Nissan chief found guilty of Britain's biggest tax fraud

THE MULTI-millionaire former managing director of Nissan UK was convicted yesterday in Britain's biggest fraud trial. Michael Hunt, 59, was found guilty of siphoning off pounds 149.2m of undeclared profits from Nissan UK over nine years and cheating the Inland Revenue out of pounds 56.3m in tax and pounds 36m in interest.

After 15 hours of deliberation the jury of five men and seven women at Southwark Crown Court returned a 10-2 majority verdict convicting Hunt on one count of conspiring to cheat the Inland Revenue between December 1982 and December 1991.

He was cleared of another conspiracy charge and one charge of submitting false accounts. The remaining charge of false accounting was left on file. Hunt was granted conditional bail before appearing on Wednesday for sentencing. As the verdict was announced, Hunt, of Hove, East Sussex, looked stunned and his wife, Shirley, held her head in her hands. They refused to comment before leaving the court with their son and daughter.

The three-month trial, which cost pounds 2.2m, was prompted by the biggest investigation into corporate fraud ever conducted by the Inland Revenue. Peter Rook QC, prosecuting, said Hunt had personally made pounds 30m in the scandal and asked Mr Justice Gatehouse to issue an order confiscating his assets before sentencing. Hunt is thought to have substantial investments in the UK and overseas, including a golf course and a villa in the Spanish resort of Marbella.

The judge said such an order would delay sentencing by weeks and the Inland Revenue could recoup its losses through civil means at a later date. He ordered an immediate freeze of Hunt's business and personal assets.

The prosecution asked for Hunt to be remanded in custody until sentencing but the judge said that during the course of the trial there had been ample time for Hunt to abscond, and on this issue 'he seems to be in my view a reasonable and honourable man, unlikely to jump bail'.

On Wednesday he will be sentenced with Frank Shannon of Brighton, East Sussex, who admitted cheating the Inland Revenue earlier in the trial.

The company's former chief, Octav Botnar, 79, was also named in the charges against Hunt, but he left Britain for Switzerland.

Independent Comment
blog comments powered by Disqus
Top stories
News in pictures
World news in pictures
UK news in pictures
UK news in pictures
More stories
       
Independent
Travel Shop
India and Shimla
14 nights from only £1899pp Find out more
Prague city break
Three nights from £199pp Find out more
4* Soreda hotel break, Malta
Seven nights all-inclusive from £399pp Find out more
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Maths Teacher- Reading

Negotiable: Randstad Education Reading: Our client in Sonning Common, is looki...

Science Teacher- Reading

Negotiable: Randstad Education Reading: Our client in Sonning Common, is looki...

Special Needs Teacher in Lewisham South London

£27000 - £55000 per annum: Randstad Education London: Supply special education...

English Teacher- Sonning Common, Reading

Negotiable: Randstad Education Reading: Our client in Sonning Common, is looki...

Day In a Page

'There is a battle going on inside us that is never discussed'

Masculinity in crisis?

'There is a battle going on inside us that is never discussed'
Have US shock jocks gone too far?

Have US shock jocks gone too far?

An incendiary remark from Rush Limbaugh may be the beginning of the end for outspoken right-wing US broadcasters
The ‘Beverly Hills’ of Surrey pays more income tax than big cities of the North

The ‘Beverly Hills’ of Surrey

Elmbridge pays more income tax than big cities of the North
Heavenly Bodies

Heavenly Bodies

Michael Landy's artistic marriage made in heaven... and hell
'He will always be a friend': Jackie Stewart backs Polanski

'He will always be a friend'

Jackie Stewart backs Roman Polanski
The price of pacifism: Refusing to go to war is finally being recognised as a brave act

The price of pacifism

From the Second World War refusenik to the 19-year-old Israeli, Holly Williams talks to five people who risked shame and suffering to take a stand as conscientious objector.
'It was mass hysteria': Jason Isaacs on groupies, theatre bores and snogging James Bond

Jason Isaacs: Groupies, theatre bores and James Bond

To millions, Jason Isaacs is one of Harry Potter's arch enemies – but his wife prefers him as a Scottish TV detective.
Notes from a small island: Is Sealand an independent 'micronation' or an illegal fortress?

Sealand: 'Micronation' or illegal fortress?

Thomas Hodgkinson spent a week at the tiny platform off the Suffolk coast to find out.
Not a bad bone: Mark Hix cooks with cutlets and ribs

Mark Hix cooks with cutlets and ribs

If you ignore cutlets and ribs, you'll risk missing out on some delicious and easy meals, says our chef.
The experts' guide to summer: From getting fit for the beach to recreating that Olympic buzz

The experts' guide to summer

From getting fit for the beach to recreating that Olympic buzz
Sex, drugs and fast cars: The legend of James Hunt has set Hollywood hearts racing

Legend of James Hunt has set Hollywood hearts racing

Early glimpses of Ron Howard's film Rush suggest it will portray Hunt as a high-living lothario, with an insatiable appetite for partying.
Macklemore: 'I don't have moderation when using drugs and alcohol. It was hurting my life'

Macklemore: 'I don't have moderation'

The next Vanilla Ice or the next Eminem? Macklemore doesn't have a record contract – but he does have the UK's biggest-selling single of the year.
Don't be shy: Bill Granger's Sri Lankan recipes

Don't be shy: Bill Granger's Sri Lankan recipes

Sri Lankan cuisine is light, sunny, wonderfully spiced – and so easy to cook from scratch. Just as soon as you've broken into the coconut, that is.
Sir James Dyson’s latest project: Cleaning up hospitals

Sir James Dyson’s latest project: Cleaning up hospitals

Doctors are hailing the revamp of a Bath neonatal unit, where babies sleep more and feed better, as the model for patient care
One man returns to Argentina's town that drowned

One man returns to Argentina's town that drowned

Epecuen was submerged under 10 metres of water in 1985. Now the floods have gone – and 83-year-old Pablo Novak has moved back in