Disgraced tycoon who pocketed hundreds of thousands in BHS takeover thrown again in jail
A tycoon who was banged up for tax fraud following the collapse of BHS is again inside after breaching the situations of his launch.
Dominic Chappell was sentenced to 6 years inside in 2020 after being discovered responsible of failing to pay tax on the £2.2million he bought out of the corporate earlier than it went underneath in 2016.
He was allowed out of Guys Marsh jail, Dorset, on licence after spending three years inside, however The Sun has revealed that he’s been despatched again in for the breach, which is believed to contain some consultancy work he’s been doing.
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The former racing driver, 56, hit the headlines in 2015 when he purchased the doomed BHS from Philip Green for only a quid.
(Image: James Maloney/LancsLive)
It was solely a few 12 months later that the corporate collapsed into administration due to its £570million pension-fund debt. All 164 shops have been closed and 11,000 jobs have been misplaced, however Chappell himself did properly out of the entire thing, prompting large public anger.
During his 2020 trial at Southwark Crown Court, Chappell stated he’d been “misled” by Green when he’d purchased the chain.
(Image: PA)
He additionally stated that the deal – which included a £10million fairness injection into BHS Group Ltd – turned out to be a “life-changing catastrophe”.
But as a substitute of injecting funds into the corporate, Chappell as a substitute took out £1,789,250 inside three months of buying management.
He admitted to extracting a complete of £2,627,643 from BHS in the course of the 13 months he was on the helm.
(Image: Corbis by way of Getty Images)
He denied three prices of dishonest the general public income associated to his finance firm Swiss Rock Limited. Over a 12-month interval, SRL acquired £2.2million in revenue and consultancy charges from the acquisition and administration of BHS.
Chappell spent £185,000 of this cash on a yacht, purchased a Bentley Continental and Beretta weapons, and paid £95,000 to his spouse.
(Image: Mirrorpix)
During sentencing in court docket for his crimes, the decide stated: “You are not of positive good character. Your offending occurs against a backdrop of successive bankruptcies.”
A Ministry of Justice spokesman advised The Sun: “Offenders released on licence are subject to strict conditions and we do not hesitate to recall them if they break the rules.”
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