Three men have been sentenced to over 11 years combined jail time for their role in a tax fraud scheme worth more than $4.5 million.
Ian Henke, Robin Huston and Brian Fox have each been charged for their part as promoters of an asset-stripping scheme, which resembled the infamous ‘bottom of the harbour’ schemes of the 1970s.
The Vanuatu-based scheme was designed to leave Australian companies in a position where they were unable to pay their tax liabilities, with almost 70 companies participating in the arrangement.
Tax Commissioner Michael D’Ascenzo (pictured) said after the hearing that Australia would not stand for these types of illegal scheme arrangements.
“Those who participate and promote these schemes burden the majority of Australian taxpayers who do the right thing. Tax funds vital community and Government programs that the community relies upon,” he said.
“If you are participating in an illegal scheme, particularly those using overseas tax secrecy jurisdictions, it is only a matter of time before we find you,” he said.
