Sydney accountant allegedly defrauded $26m to fund lifestyle, gambling
An accountant, who police claim has links to organised crime, allegedly defrauded millions of dollars to fund his lavish lifestyle and gambling habit.
An accountant who is accused of defrauding $26 million from his clients in a tax-related scheme allegedly used the money to fund his lavish lifestyle and gambling habit.
NSW Police Raptor Squad began investigating reports of fraudulent misconduct by a registered accounting firm last month, with assistance from the Tax Practitioners Board.
The elite unit swooped in on a home in Silverdale on Tuesday where they arrested a 36-year-old man, before also arresting a 25-year-old woman at a Penrith business.
During their search, officers seized electronic devices, hard drives, and documentation.
They also located a small amount of a substance believed to be cocaine.
The pair were taken to St Marys Police Station, where the man was charged with 16 offences including 14 counts of dishonestly obtain financial advantage by deception, knowingly deal with proceeds of crime, and possess prohibited drug.
He was refused bail to appear in Penrith Local Court on Wednesday.
The woman was charged with recklessly deal with proceeds of crime.
She was granted conditional bail to also appear before Penrith Local Court on July 27.
Police will allege in court the man defrauded at least eight accounting clients to the value of $26 million, while the woman allegedly attempted to conceal the misconduct.
Police will further allege the man had links to Organised Criminal Networks.
Investigations are continuing.
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