The former directors of collapsed hospitality empire Virtical have had their accounts and assets frozen amid an investigation into hundreds of millions of dollars of fake GST refunds claimed to be part of developing iconic pubs and hotels.
John Palasty and Mark Toma have been ordered by the Federal Court to not deal with any of their assets up to $52.2 million, following an application by BRI Ferrier liquidator Peter Krejci.
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Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
