Seven arrested in tax fraud case

The British tax office arrested seven people in London yesterday in a suspected £38m value-added tax fraud in the European market in carbon allowances, it said. Officers from HM Revenues and Customs (HMRC) searched 27 properties around London and arrested six men and one woman in early morning raids, the HMRC said in a statement. HMRC said further arrests were likely but it would not give the names of those arrested or the companies involved.