Billionaire property tycoon Peter Singh Virdee, nicknamed ‘Batman’, faces a sentence of three years and three months for his role in a large-scale tax fraud operation.
He was considered to be a major figure of a VAT scam that cost the German tax authorities approximately £100 million.
In 2017, Virdee was arrested at Heathrow Airport by officers from the Met’s extradition unit.
German prosecutors said Virdee was one of the “central organisers” of a criminal plot to defraud authorities of VAT on carbon credits under the EU Emissions Trading Scheme.
Carbon credits are tradeable permits for nations or firms to produce a certain amount of emissions.
‘Batman’ worked “in the background” and took steps to conceal his identity.
In 2017, a Met Police spokesperson said:
“Peter Singh Virdee, 43, a UK national, was arrested on Tuesday, January 10, at Heathrow Airport.
“He was arrested on a European arrest warrant on behalf of authorities in Germany, where he is wanted in relation to tax evasion.”
Virdee had been in the UK but was transferred to Germany before the verdict was announced.