Ravenstone UK Investigate Footballers Targeted by Tax Fraud Scam

By | 5th May 2020

Insurance claims consultants turned fraud investigators, Ravenstone UK featured centrally in the tax fraud investigation related to One Formula Projects LLP. The Manchester financial firm, who were investigated by HM Revenues and Customs, stand accused of operating a massive tax fraud empire. Broadcast on BBC One, the documentary series Rod Bond: Tax Fraud and HMRC exposed the firm’s fraudulent tax relief claims, among other dubious tax scams. A major scam operated by the firm involved Premier League footballers belonging to Manchester City and Manchester United. Believing themselves to be investing in tax efficient schemes, One Formula Projects LLP was in fact stealing from the public purse.

Manchester filming company F1 Productions have announced plans for a movie remake of the One Formula Projects LLP tax fraud investigation. The movie follows on from the critically acclaimed and popular documentary series, which followed HMRC investigators pouring over One Formula LLP’s dealings. In the foreground of the operation, the Manchester-based financial firm helped a plethora of rich clients make tax efficient savings and investments.

Executives from the firm boasted high-level contacts in two of Manchester’s and, indeed, the world’s biggest and richest football clubs, Manchester City and Manchester United. From footballers, to coaching staff and managers, One Formula Projects LLP boasted close links with numerous figures linked to both football clubs.

However, a HM Revenues and Customs investigation revealed that this was an elaborate and dubious smokescreen. Behind the scenes, One Formula LLP operated a slew of charities which were used to pilfer millions from HMRC by way of fraudulent tax reliefs, dodgy tax rebates and an array of tax avoidance schemes. Recently leaked case notes from HMRC officers tasked with the investigation have revealed that Ravenstone UK played an integral part in the success of the tax fraud investigation. Experts in surveillance, investigation and detection, it was the Greater Manchester-based Ravenstone UK which led HMRC to the tax avoidance scheme footballers were duped into.