A Sydney accountant linked to some of the country’s most notorious tax fraudsters has avoided millions of dollars in tax debt and unpaid loans by declaring herself bankrupt.

Filomina Kyriacou, one of the co-founders of accountancy firm Wentworth Williams, went bankrupt last week as Commonwealth Bank pursued her for $900,000 and the Australian Taxation Office secured a $3.7 million default judgment against her for unpaid income taxes.