carousel fraud
n.— «The money is being lost to a swindle described officially as missing trader intra-community fraud, but known to criminals as carousel fraud. It involves bogus companies being set up to trade goods between each other, and Revenue & Customs being tricked into handing over VAT refunds for each fake sale.» —“Revealed: the £5bn-a-year tax fraud” by Ian Cobain, Ashley Seager Guardian Unlimited (U.K.) May 9, 2006. (source: Double-Tongued Dictionary)
Further reading
While reading Great Expectations (Bookshop|Amazon) by Charles Dickens, a listener in Arlington, Texas, is surprised when one of the characters inherits some money, which Dickens describes as a cool four thousand. Were they really using cool that way...
Twice a day the River Thames recedes, revealing a muddy shoreline. Hobbyists known as mudlarks stroll the surface searching for objects that have found their way into the river over the centuries, everything from ancient Roman jewelry to modern...