Case details for Michael Anthony Lamden

Name: Michael Anthony Lamden


Date of Birth: 4 / 12 / 1968

Date Order Starts: 20 / 5 / 2019

Disqualification Length: 12 Years 0 Month(s)

CRO Number: 08906434

Last Known Address: 19 Victoria Place,, , Stoke, , PLYMOUTH,, PL2 1BY

Conduct: Between 01 June 2015 and 29 June 2015 Michael Anthony Lamden (ĎMr Lamdení) caused My.KLT Limited (ĎMy.KLTí) to participate in transactions which were connected with the fraudulent evasion of VAT, such connections being something which he either knew or should have known about. Annex 1. He was aware, or ought to have been aware, that VAT fraud was rife in the trade of wholesale alcohol in which My.KLT engaged, because:

  • During the visit on 29 June 2015, he admitted to having knowledge of Carousel Fraud. 2. The trading in which My.KLT was involved had features which put, or should have put, him on enquiry about the legitimacy thereof, as follows:
  • All the deals are back to back i.e. the purchases and sales are all on the same date. The ability to always be able to match customer requirements to stock available from its suppliers indicates that the deals were contrived and connected with fraud.
  • The trade class of the business was changed following registration from Textile Wholesale (no trade ever undertaken) to Telecommunications/Airtime prior to trade commencing.
  • He used an Alternative Banking Platform, which you declined to admit to in the first HMRC visit of 29 June 2015, which HMRC concluded was a deliberate omission with the intention of hindering enquiries.
  • Furthermore he forgot to inform HMRC of the £43 million trade when meeting with HMRC Officers on 29 June 2015. He stated at the time that he had not traded and wouldnít know what he was doing until the following Wednesday when he was due to meet a trading partner.
  • As disclosed to Companyís House My.KLT had a shareholding of £1, and yet despite this a supplier was willing to provide a credit line of £1 million. Payment was reliant on payment from the customer being made before the supplier could be paid. The only reasonable explanation for such apparent generosity is that the deals were connected with fraud, and My.KLT either knew or it should have known this.
  • My.KLT were unable to provide CDRís (Call Data Records) to enable reconciliation of the large number of deals, which calls into question the legitimacy of the trade.
  • There is no evidence of negotiation of price or testing of the lines for quality.
  • Despite being a start-up company with a sole Director and no employees, My.KLT managed in two months to generate a purported trade of £43,273,566.00. HMRC think that the reasonable business person would find this too good to be true. 3. Despite being aware of VAT fraud in My.KLTís trade sector and engaging in transactions bearing the features of such fraud, he failed to ensure that My.KLT carried out effective steps, checks and / or due diligence in respect of its trade and of its trading partners as follows:
  • Despite a general awareness of Carousel Fraud the due diligence checks are wholly inadequate and were only supplied for a Ugandan registered company, and only consisted of an Incorporation Certificate and an ID card.
  • My.KLT disclosed nothing to HMRC to confirm, via third party checks and reports that its supplier and customer were credible, solvent businesses that would honour their trading commitments. 4. The trading chains in which My.KLT was involved caused significant losses to HMRC.
  • All of the Transactions undertaken by My.KLT have traced back to a fraudulent defaulter.
  • In liquidation My.KLT owes HMRC £7,023,249.25 in respect of VAT and penalties. 

    This information is correct as at 30 / 4 / 2019

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