Three men charged in tax evasion: Project Wickenby

The ATO and the Australian Federal Police (AFP) have announced that as part of Project Wickenby, three men have been charged with tax and money laundering offences relating to the transfer of $30 million into Australia

All three men are set to appear before the Sydney Central Local Court. The ATO and the AFP said it will be alleged in court that the men arrested established a complicated network of offshore companies which were used to conduct business in Australia, and that profits derived from this activity were retained offshore, untaxed. The ATO and the AFP said it will also be alleged the profits were then transferred back to Australian companies disguised as loans, which fraudulently reduced the tax liabilities of those companies.