International Law

Australian Court Sentences Entrepreneur For Offshore Tax Evasion

By B. Wayne Creel

An Australian court recently sentenced Glenn Wheatley, a well-known entertainment entrepreneur, for tax fraud.  Wheatley?s arrest was part of a larger tax fraud investigation, Operation Wickenby, run jointly by the Australian Crime Commission and the Australian Taxation Office.  The $300 million investigation is the largest ever of its kind in Australia and Wheatley is the first person sentenced as a result of the investigation.  In Wheatley?s case, he secreted money into an account in the Swiss-based accounting firm Strachans SA, which made a series of bogus offshore transactions to conceal his income.  In connection with his sentencing, Wheatley promised to give evidence against individuals at Strachans and other offshore entities used to commit the fraud.  Australia?s efforts are another example of the increasing vigilance of countries in preventing their citizens from avoiding taxes by using offshore measures.

http://www.thewest.com.au/aapstory.aspx?StoryName=401566

Full post as published by International Asset Recovery Law Blog on July 19, 2007 (boomark / email).