A 55-year-old Kent man convicted of being part of a £10m VAT fraud has been jailed for eight years. Gerald Reardon, of Church Lane, Molash, near Ashford, was convicted of conspiring to launder money in 2003 along with three others who were also jailed - two for eight years, one for 10 years. Sentencing Judge Adele Williams said at Canterbury Crown Court it was a highly sophisticated, bold and cynical carousel fraud which was very prevalent. She said the extent and variety of lies told and dishonest practices were breathtaking. The charges arose from fraudulent claims for the repayment of VAT made by Durgesh Mehta, 51, from Bucks - jailed for 10 years - and the money then passed through the hands of Matthew Sharman, 43, from Basildon and Peter Ratcliffe, 53 from Surrey. The scam, which involved the selling of mobile phones, netted £7m for the fraudsters which was dispersed through various companies one of which was Gazelle Corporation controlled in the UK by Reardon. By October 2003, the year of the offences, over £3m had been transfered to Gazelle and as he received the money, Reardon withdrew large cash sums. Judge Williams said Reardon had given the appearance of being an honest and successful businessman. "You used your bank account and displayed great bravado and arrogance withdrawing large sums saying they were for helicopter parts. The money laundering was on a vast professional scale." Also allegedly involved in the scam but acquitted and discharged was a 30-year-old man from Tonge, who the Crown claimed was a 'bag man' in the fraud. He denied three money laundering charges. Also acquitted was a 41-year-old man from Bucks. The jury took more than 33 hours to reach its verdict in a trial which has run since the end of July. Judge Williams praised the investigation team saying in her judgement it was an extremely professional and thorough investigation.