In the early 1970s, whilst Branson was bootstrapping his mail-order record store, Virgin Records, he made the mistake of trying to evade the heavy British sales tax known as the VAT (value added tax) by pretending to export the records thereby making more profit per record sold. He was quickly caught, confessed and put on probation; promising to pay the taxes over the following three years.
Why was Richard Branson arrested?
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