As part of Project Wickenby, the Australian Federal Police (AFP) has charged a man with conspiring to dishonestly cause a loss to the Australian Tax Office (ATO) and conspiring to deal in the proceeds of crime to the value of $63 million, dismantling a multi-million dollar tax evasion and money laundering scheme.
A 67-year-old man has been arrested and more than $40 million of luxury assets have been restrained under Commonwealth proceeds of crime legislation.
This action was part of a seven month joint investigation between the AFP and ATO under Project Wickenby, and is the largest tax fraud investigation identified since it was launched in 2006.
Project Wickenby brings together resources from the ATO, AFP, Australian Crime Commission, Australian Securities and Investments Commission, Australian Transaction Reports and Analysis Centre (Austrac), Australian Government Solicitor and the Commonwealth Director of Public Prosecutions.
The proceeds of crime action was undertaken by the Commonwealth Criminal Assets Confiscation Taskforce. The AFP-led Taskforce brings together resources from the AFP, ATO and the Australian Crime Commission.
This is the first time the AFP has conducted the litigation to restrain assets on behalf of the Taskforce since the legislation came into effect in January this year giving the AFP the powers to commence and conduct proceeds of crime litigation.
The AFP and the ATO conducted six search warrants in New South Wales and Queensland today (24 April). Assets linked to the 67-year-old man and an unnamed business associate have been restrained, including prime real estate in Sydney and on the Gold Coast.
Detailed news link: here