Warren on the ropes in VAT clash
Customs & Excise investigators are sifting a ‘mountain of paperwork’ covering the VAT affairs of boxing promoter Frank Warren.
A spokesman for Customs’ national investigations branch said Warren, 45, had been arrested for suspected VAT evasion of at least #500,000 after raids last Thursday morning on his Hertfordshire home and other business premises across the South East.
The fight man, and Sports Network business associate Christopher Roberts from Chelmsford, Essex, were questioned in central London and bailed for ten weeks from an undisclosed court to allow Customs further investigation time. Neither has been charged.
Warren, whose boxing stable of 20 fighters has included Frank Bruno, Nigel Benn and Naseem Hamed, was banned from holding company directorships after the collapse of the London Arena entertainment business, in which he had a 70% stake, in 1991. At the time, he admitted failing to maintain accounting records and defaulting in submitting VAT returns.
