Russell Spence, English race car driver

Russell Spence, born on 3 January 1960 in Bradford, Yorkshire, is a notable English figure recognized for his multifaceted career as a former professional racing driver and, more recently, as a businessman operating a construction enterprise in London. His life narrative encompasses periods of high-speed competition on race tracks and significant challenges related to his business dealings.

Russell Spence: A Career Spanning Motor Racing and Business

Born and raised in Yorkshire, Russell Spence cultivated a passion for speed that propelled him into the competitive world of motor racing. His journey as an English racing driver saw him compete at various levels, showcasing his skills on circuits both domestically and internationally. Following his motorsport career, Spence transitioned into the business sector, establishing a construction company based in the bustling capital city of London.

A Distinguished Journey in Motor Racing

Russell Spence's racing career spanned several key categories in motorsport. He made a significant impact in the British single-seater scene, competing prominently in British Formula 3, a traditional proving ground for future Formula 1 stars. In this highly competitive championship, Spence demonstrated considerable talent, securing race wins and often contending for top honours. His progression led him to International Formula 3000, a crucial stepping stone to Formula 1 in the late 1980s, where he competed against many of the era's rising talents. Beyond single-seaters, Spence also participated in endurance racing and sports car events, further diversifying his racing experience and showcasing his versatility behind the wheel.

Transition to the Construction Sector in London

After his active racing career concluded, Russell Spence embarked on a new professional path, shifting gears from the adrenaline-fueled world of motorsport to the intricacies of property development. He established and currently runs a construction business located in London. This venture represents a significant pivot, demonstrating his entrepreneurial spirit and ability to adapt his skills to a completely different industry, focusing on building and development projects within the UK's capital.

Legal Challenges: Russell Spence's Involvement in a Fraud Conviction

In 2011, Russell Spence faced legal repercussions related to his business activities. He was convicted and subsequently sentenced to 13 weeks in prison for his involvement in a significant fraud scam. This case highlighted the complexities and risks sometimes associated with business operations, particularly concerning financial compliance and regulations.

The Car Wash Fraud Scam and Conviction Details

The fraud in which Russell Spence was implicated involved a sophisticated Value Added Tax (VAT) scam centered around a chain of car washes. Specifically, the scheme involved the fraudulent reclamation of approximately £1.6 million in VAT. Investigations revealed that this illicit activity was perpetrated through the creation of false invoices and the utilization of various shell companies designed to obscure the true nature of the transactions. The operation, which included a car wash chain known as "Bubble & Squeak," led to a comprehensive legal process culminating in Spence's conviction and imprisonment for his role in the criminal enterprise. His sentence of 13 weeks reflected the court's judgment on his level of participation in the wider, multi-million-pound fraud.

Frequently Asked Questions About Russell Spence

Who is Russell Spence?
Russell Spence is an English individual primarily known for his past career as a professional racing driver in series like British Formula 3 and International Formula 3000, and for his current role running a construction business in London. He was also involved in a notable fraud case in 2011.
What was Russell Spence's racing background?
Russell Spence had a significant career as a racing driver, competing in various single-seater championships. He achieved success in British Formula 3, securing race wins, and also raced in International Formula 3000. Additionally, he participated in sports car and endurance racing events.
Why was Russell Spence jailed in 2011?
Russell Spence was jailed for 13 weeks in 2011 for his involvement in a large-scale VAT fraud scam. This fraud was connected to a chain of car washes and involved the fraudulent reclamation of substantial amounts of Value Added Tax.
What was the nature of the fraud Russell Spence was involved in?
The fraud involved a scheme to illegally reclaim approximately £1.6 million in Value Added Tax (VAT) using false invoices and shell companies. This criminal operation was linked to a chain of car washes, notably one named "Bubble & Squeak."
What does Russell Spence do now?
After his racing career and legal issues, Russell Spence now runs a construction business based in London, focusing on various development and building projects.