Adam Cranston was one of nine people arrested by the Australian Federal Police when they raided his Bondi flat and 26 other properties over the fraud syndicate, seizing $15 million in cash and an array of luxury items. Cranston, the son of ATO Deputy Commissioner Michael Cranston, was charged with conspiracy to defraud the Commonwealth and is expected to face Central Local Court on Thursday. Eight others were arrested and could also be charged in relation to the syndicate.
Michael Cranston was issued a court attendance notice for allegedly abusing his position as a public official, but he was not part of the criminal syndicate. He will appear in court on June 13.
Other items seized included 25 motor vehicles, 18 residential properties, 12 motorbikes, in excess of 100 bank accounts and share trading accounts, two aircraft, firearms and jewellery.
“This investigation has uncovered high-level organised activity; it is complex (and) sophisticated,” as per a source.
They’re accused of using an elaborate tax scam to fund a celebrity lifestyle that included prime real estate, boats and even a racing care team. It’s alleged the fraud involved a payroll company which would funnel wage payments through a second tier company, and then only pay the ATO a fraction of the income tax required, News Corp reported.
Source: Yahoo News