paying tax on £2.2m of income and lived a luxury lifestyle after buying the failed high street chain for £1. Instead of paying the tax he knew was due, Chappell, 53, spent a fortune on the high life including a £90,000 yacht, a Bentley Continental car, a Bahamas holiday and some expensive Beretta guns, Southwark Crown Court heard.
He has been convicted of dishonestly choosing to evade paying tax. His lawyers claimed he became, and still is, 'utterly broke' because BHS's hugely underfunded "pension problem exploded" within two weeks of controversially buying BHS from retail tycoon Sir Philip Green in 2015.His defence suggested that, had BHS not failed, he would have had the funds to pay his tax liability, but a jury found Chappell guilty of.
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