MICHAEL Cranston, the deputy commissioner of the Australian Taxation Office, has been charged with abusing his position as a public official.
It comes after The Daily Telegraph today revealed Cranston’s son, Adam, was charged over his alleged role in a fraud syndicate that police claim stole more than $165 million — one of the biggest white-collar crimes in Australia’s history.
[...]
Assets seized in the past two days by the AFP include 25 motor vehicles — luxury, vintage and racing vehicles — 18 residential properties, 12 motorbikes, more than 100 bank accounts and share trading accounts, two aircraft, firearms, jewellery, artwork, vintage wines and at least $1 million located in a safety deposit box.
Sources close to the investigation claim Adam was a “co-conspirator” in a group that used an elaborate tax scam to fund a celebrity lifestyle that included prime Sydney real estate, boats — and even a racing car team.
“This investigation has uncovered high-level organised activity; it is complex (and) sophisticated,” the source last night told The Daily Telegraph.
“I think it will take the police a long time to figure out exactly how much money (is involved).”
http://www.dailytelegraph.com.au/news/national/tax-tsars
My prediction:
With
friends in high places none of them will do prison time - maybe a few
hours unpaid community service - and most of the seized assets will be
returned to them when the trial ends.
Update #1
Australian Tax Office boss Michael Cranston has been cleared of fraud as police investigate a multi-million dollar Sydney tax scam
https://au.news.yahoo.com/nsw/a/35591639/
Update #2
The daughter of Australian Taxation Office deputy commissioner Michael Cranston will fight an order for compulsory questioning, saying she is eight months pregnant and has no money to her name.
http://www.smh.com.au/national/lauren-cranston
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