[Australia] $15.8m assets confiscated from Plutus Payroll founder

[Australia] $15.8m assets confiscated from Plutus Payroll founder
10 Feb 2021

The Australian Federal Police (AFP) has confiscated $15.8 million in assets linked to a founder of Plutus Payroll. The IT industry-focused payroll outsourcing firm has been at the centre of a multimillion-dollar tax fraud investigation.

According to the AFP the man from whom the assets were confiscated - a 38-year-old from Liverpool man - was arrested and charged in 2017 as part of Operation Elbrus the AFP-led tax fraud investigation.  

In 2020 the man was sentenced to seven years and six months in jail for conspiring to defraud the Commonwealth and dealing with the proceeds of crime.

The AFP has not explicitly named the individual but Plutus Payroll founder and former CEO Simon Anquetil was sentenced to more than seven years’ jail time in mid-2020 for his role as a “principal conspirator” in the syndicate.

The syndicate is alleged to have defrauded the federal government of more than $105 million over a period of three years.

Mr Anquetil entered a guilty plea to conspiring to defraud the Commonwealth and dealing with the proceeds of crime worth $1 million or more, according to a joint release by the AFP and the Australian Taxation Office (ATO).

The AFP said the Criminal Assets Confiscation Taskforce (CACT) obtained restraining orders in 2017 for an assets pool linked to the Plutus Payroll founder which is worth an estimated $15.8 million.  The assets included six properties, three vehicles, multiple bank accounts, investment accounts and shareholdings plus several luxury items including watches. ARN has further details.

The Australian Federal Police (AFP) has confiscated $15.8 million in assets linked to a founder of Plutus Payroll. The IT industry-focused payroll outsourcing firm has been at the centre of a multimillion-dollar tax fraud investigation.

According to the AFP the man from whom the assets were confiscated - a 38-year-old from Liverpool man - was arrested and charged in 2017 as part of Operation Elbrus the AFP-led tax fraud investigation.  

In 2020 the man was sentenced to seven years and six months in jail for conspiring to defraud the Commonwealth and dealing with the proceeds of crime.

The AFP has not explicitly named the individual but Plutus Payroll founder and former CEO Simon Anquetil was sentenced to more than seven years’ jail time in mid-2020 for his role as a “principal conspirator” in the syndicate.

The syndicate is alleged to have defrauded the federal government of more than $105 million over a period of three years.

Mr Anquetil entered a guilty plea to conspiring to defraud the Commonwealth and dealing with the proceeds of crime worth $1 million or more, according to a joint release by the AFP and the Australian Taxation Office (ATO).

The AFP said the Criminal Assets Confiscation Taskforce (CACT) obtained restraining orders in 2017 for an assets pool linked to the Plutus Payroll founder which is worth an estimated $15.8 million.  The assets included six properties, three vehicles, multiple bank accounts, investment accounts and shareholdings plus several luxury items including watches. ARN has further details.

Leave a Reply

All blog comments are checked prior to publishing