The Australian Taxation Office’s Project Wickenby probe has sparked another court case, with a Gold Coast accountant charged with helping clients dodge $2.7 million in tax.
Ewan Alisdair James Stoddart, 45, of Runaway Bay, appeared in the Southport Magistrate’s Court charged with three counts of defrauding the Commonwealth and 10 counts aiding and abetting other participants in the scheme.
So far, five people have been charged over the involvement in the scheme, which has seen 23 search warrants executed as part of a Federal Police probe.
Stoddart was granted bail until the matter returns to court in January.
In Sydney, former company director Simon Finnigan faced the Downing Centre Local Court to face 14 charges of dishonest conduct relating to $2.7 million of investor funds.
The Australian Securities and Investment Commission alleges Finnigan dishonestly raised money from nine investors between January 2003 and July 2006, using three companies that have since collapsed.
“ASIC alleges that Finnigan raised funds from investors… after advising them that he would invest their money in shares, options, managed funds and property for returns of between 8-15%,” the watchdog said in a statement.
“Finnigan then deposited the money into bank accounts he controlled and used the funds for the three companies and his own personal use.”
He was granted bail and will return to court on December 14.
In separate action, ASIC announced yesterday it had banned Melbourne former client adviser Lim Theam Chye from providing financial services for five years.
The banning relates to ASIC concerns about market manipulation in the shares of ASX company Wintech Group.
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
