A BUSINESSMAN arrested on suspicion of swindling the taxman out of £135,000 has been released without charge.
The 48-year-old Sandown man, who has not been named, was arrested last year following an investigation by HM Revenue and Customs (HMRC) into suspected VAT fraud.
Officers searched two business premises and a residential address in the Sandown and Shanklin areas, seizing computers, business and personal records.
He was released from bail on March 14.