Ex-RBS Bankers Charged Over Movie Tax-Avoidance Scheme in U.K.
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Former Royal Bank of Scotland Group Plc and Jefferies Group LLC employees were among seven investment bankers charged with using a film-production scheme to avoid 2.5 million pounds ($4.1 million) in taxes, U.K. prosecutors said.
The charges against 13 people relate to two film partnerships that allegedly submitted false tax returns so its members could claim relief on losses. Three women and 10 men “conspired to cheat” Her Majesty’s Revenue and Customs through “a complex film scheme designed for that purpose,” the Crown Prosecution Service said in a statement today.