// Ex-BHS owner faces court over tax evasion charges
// Money laundering allegations relate to funds from Chappell’s company to buy two yachts shortly after BHS purchase
Dominic Chappell, the last owner of BHS, will appear in court today accused of tax evasion.
Back in 2015 the businessman purchased BHS for just £1 from Sir Philip Green, just a year before it collapsed with the loss of 11,000 jobs and a £571 million pensions deficit.
Chappell will appear at the City of London Magistrates Court on Tuesday to face three charges of cheating the public revenue and two counts of money laundering relating to his bankrupt finance company Swiss Rock Limited.
According to the charges, the money laundering allegations relate to funds from the company used to buy two yachts.
The charges state that the first vessel was bought for £182,500 in April 2015, a month after the acquisition of BHS.
Another £230,000 was allegedly used to buy a second yacht six months later.
The tax evasion charges claim Chappell failed to register Swiss Rock for VAT from the correct date, and provided false or misleading information to HMRC and fail to correct their assessment of how much tax was due.
It is also alleged that he provided false information to accountants, leading to an under-declaration of profits by Swiss Rock.