Tax haven heros face kidnapping

Subject: Tax haven heros face kidnapping Sat Jan 03, 2009 11:09 pm

THE alleged masterminds of the offshore tax schemes used by the music tycoon Glenn Wheatley, the actor Paul Hogan and scores of other wealthy Australians are facing extradition in a breakthrough for the nation's biggest tax fraud probe, Operation Wickenby.

Acting on a request from Australian authorities, police in the British Channel Islands yesterday swooped on Philip de Figueiredo, one of the principals of the Swiss accounting firm Strachans, the secretive tax haven specialists at the centre of the Wickenby investigations.

The Jersey police's financial crimes unit arrested Mr de Figueiredo at his island home. He faces proceedings to extradite him to Australia, where he is likely to be charged with defrauding the Commonwealth and a range of other tax and fraud offences.

It is expected the other principal in Strachans, Monaco-based Philip Egglishaw, is also facing possible arrest and extradition, although Australian authorities would not confirm whether warrants had been issued.

News of the arrest of Mr de Figueiredo and the potential arrest of Mr Egglishaw is expected to stir alarm among Australian targets of Wickenby.

If Mr de Figueiredo or Mr Egglishaw co-operates with authorities to reveal new information, it could pave the way for charges to be laid against other Wickenby targets.

Among the highest-profile targets of Wickenby are Mr Hogan, Mr Hogan's comic sidekick, John "Strop" Cornell, their adviser, Tony Stewart, and the Melbourne celebrity lawyer Michael Brereton, who recently reached a settlement with the Tax Office but is still under investigation by the Australian Crime Commission.

While much of the public activity of Operation Wickenby has focused on the Australian clients and middlemen of the allegedly illegal tax schemes, its prime target was always offshore promoters.

Mr de Figueiredo and Mr Egglishaw have been the subjects of almost five years of investigations by the nation's elite crime fighting body, the ACC, and the Tax Office. Their extradition would be the biggest development so far in the operation.

"The ACC views this as a significant result for Operation Wickenby and its pursuit of abusive tax haven arrangements," said the ACC acting chief executive officer, Kevin Kitson.

But it could take months before Mr de Figueiredo gets to Australia, depending on the co-operation of overseas authorities and any legal challenges in European courts. If convicted, he could face 10 years in jail.

LNK

Tax haven heros face kidnapping

Tax haven heros face kidnapping

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