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Brisbane men face tax fraud charges

16/05/2008 10:11:48 AM
Two men will face court in Brisbane today charged over a multi-million dollar offshore tax avoidance scheme.The Australian Federal Police (AFP) will allege the men, a 62-year-old from Samford north of Brisbane and a 72-year-old from Hastings in Victoria, promoted an asset stripping scheme designed to leave Australian companies unable to pay their tax liabilities.Police will allege the men were involved in a network of companies in Australia and Vanuatu.The AFP investigation followed a referral from the Australian Tax Office.The joint investigation has identified 69 companies from Queensland, NSW, Victoria, South Australia and the ACT as participants in the asset stripping arrangement, which involves alleged tax fraud in excess of $10 million.The two men will face charges of conspiracy to defraud the commonwealth in Brisbane Magistrates Court today. AAP
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