Dev Menon, a 33-year-old tax lawyer from Sydney is accused of being a part of an alleged $165 million tax fraud syndicate busted last week.
He was one of the ten people arrested after investigators busted the alleged payroll scam having links to senior ATO official Michael Cranston. The Australian Federal Police said Mr Cranston was not part of the syndicate, which involved his son.
Investigators seized a haul of luxury items including two planes, sports cars, jewellery, artwork, firearms and at least $1 million in cash was found in a safety deposit box.
Fairfax Media reports lawyer Dev Menon, accused in this complex operation of payroll businesses involving subcontractor companies run by straw directors, is captured in hundreds of phone taps, allegedly advising the members how to structure and disguise subcontractor companies.
He is accused of spending some of the proceeds on properties worth millions of dollars.
Mr Menon has been charged with defrauding the Commonwealth. He was granted bail last week on a surety of $100,000.
He had been under the lens of the Law Society of NSW for professional misconduct along with three other colleagues, Fairfax Media reports.
The case was closed in September.
Prime Minister Malcolm Turnbull said it was "very regrettable" that the syndicate allegedly defrauded taxpayers. He congratulated the AFP for the investigation.
"Nobody should imagine they can escape our law enforcement agencies no matter how high they may be in a government department,” said the prime minister.
"No matter how high they may be, they are being watched."
The arrests were made following an eight-month investigation, codenamed Operation Elbrus, with assistance from ATO, Australian Federal Police (AFP) said on Thursday.
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