A former president of the Association of Taxation Technicians and a fellow company director have been jailed for eight and half years each for a £5m pension scheme tax fraud.
Andrew Meeson and associate Peter Bradley were both found guilty of the conspiracy which centred on two pension schemes administered by their company, Tudor Capital Management Limited.
HMRC investigators found that between June 2007 and March 2010, they received income tax repayments amounting to £5m.
The two men were arrested in 2010 in dawn raids carried out by HMRC officers at residential and business premises in the West Midlands and Derby.
They claimed the money was a refund due on £20m worth of contributions made by pension scheme members but investigators found these contributions did not exist.
A trustee of the pension fund, Steven Price, also pleaded guilty to obtaining documents by deception, and was given an 18 month prison sentence suspended for two years.
Confiscation proceedings to reclaim the crime profits are now underway.
HMRC assistant director of criminal investigation Simon De Kayne says: “This was blatant theft from the UK economy by people who exploited their positions of trust and authority. This prosecution reinforces our effectiveness in the crackdown to uncover and bring before the courts those involved in tax evasion and fraud.”