Millionaire businessman who made fortune online jailed

A businessman who became a millionaire through online trading has been jailed for a £300k tax swindle.

John Woolfenden, 52, made a fortune flogging CDs, DVDs and console games on website such as and auction site eBay.

However, Wolfenden, from Radcliffe, who traded under the name ‘Globalworldentertainments’, failed to pay tax or VAT on at least £300,000 of his earnings.

The fraud, including unpaid taxes, interest and money laundering totalling £299,753.17, was unearthed as part a crackdown on online tax evasion by HMRC inspectors.

When officers raided his home in May last year they found it set up as a base for online trading, with DVDs, CDs and games stored all over the property, including in the shower.

During the fraud Woolfenden had more than half a million listings on eBay. and forensic accountants discovered that nearly £1.4 m had passed through his online bank accounts over a six-year period.

Read More

Share post