Man Stole £1 MIllion to Gamble

This story was published more than 1 year ago.

A business owner in the UK was given a jail sentence after committed £1 million in VAT fraud in order to gamble online.

Terrence Sicklemore was given the sentence after he pleaded guilty to committing the massive fraud for a period of eight years. He inflated the revenue numbers of his dairy business, and he'd then file his taxes online. He ended up scoring VAT refunds of about £9,000 per month from the tax collectors. He deliberately set the amount at this amount, as he knew that collectors didn't check rebates that were less than £10,000 in a month, which allowed him to skate by for such a long period.

Sicklemore took the stolen funds and gambled excessively. He'd go to bookmakers and place wagers before work, and afterward, he'd gamble online at home. He was eventually found out when a tax collector noticed that there was a huge discrepancy between his claimed income and the VAT claims.

The defendant was given a three-year jail sentence. After his release, Sicklemore said that he wants to go tour schools giving talks about the dangers of gambling. Restitution will not be an option, as he's insolvent.

About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.
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usbarbadosslim93
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28 August 2019 - 4:56pm
#1

Dang, that's a lot of money to steal. Surprising that the limit to look for is higher than £10,000. Should be much lower.

sharpe

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28 August 2019 - 5:51pm
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Yeah, agree with you Slim, to do that for eight years without anyone notice anything is to say the least weird...but I doubt the guy will have the opportunity to spend that mill in three years time..he probably lost most of that if not all.

krcoolsongss
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29 August 2019 - 4:26am
#3

He gambled with the tax he paid. There are many people who are doing the same tax evasion here, too 😀