The producer of Eldorado, the first modern British film to be shot in 3D, has been found guilty today at Southwark Crown Court of conspiracy to defraud VAT in a £1.5 million tax fraud.
Eldorado featured a number of well-known British and Hollywood actors, including former Dr Who Sylvester McCoy, Splash actress Daryl Hannah, and was the last film made by the late David Carradine, of Kung Fu fame.
Richard Driscoll, aged 53 owned a film studio in Cornwall. He falsified invoices for the costs of making films in order to reclaim VAT. Claims for repayment of £1.5 million VAT were based on alleged production costs of more than £9 million. But the HMRC tax investigators found that the costs were actually less than £1 million. Bogus invoices had been created and other genuine invoices had their values inflated to back up the false repayment claims.
Driscoll will be sentenced on 1 July 2013.
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