Four charged with carbon trading fraud in Belgium

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The three Britons were arrested at the end of 2009, while the fourth suspect, from the Netherlands, was arrested yesterday (January 10), in connection with the investigation of €3 million worth of transactions.

The Belgian prosecutors would not disclose the names of those arrested.

Value-added-tax (VAT) carousel fraud occurs when goods are imported VAT-free then sold on to domestic buyers at a price that includes VAT. The perpetrators then disappear without paying the tax to the government.

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