Tax scam mastermind who duped Crocodile Dundee star arrested
The man at the centre of Australia’s biggest ever tax evasion scandal that ensnared Crocodile Dundee actor Paul Hogan is understood to have been arrested in Italy.
Tax & Regulation
-
-
Film scheme for the stars loses £700m tax avoidance case
A film scheme that counted David Beckham, Wayne Rooney and Gary Lineker among its investors has lost a court challenge on a technical point linked to First Tier Tax Tribunal decision which had resulted in an extra £700m ($899m, €802m) tax bill.
-
US pensioner guilty of tax fraud via Panama and Delaware
A 73-year-old woman from Texas has pleaded guilty to conspiring to defraud the US by using accounts in Delaware and Panama to conceal more than $1.3m (£1m, €1.16m) in royalty income she earned from oil wells.
-
Australian adviser given life ban for stealing A$2.3m
An Australian financial planner has been jailed and permanently banned from providing financial services after pleading guilty to stealing more than A$2.3m (£1.3m, $1.7m, €1.5m) from a nurse to fund his lavish lifestyle.
-
South Africa’s RDR to tighten independence rules for advisers
When South Africa’s Retail Distribution Review (RDR) is fully introduced, product suppliers to IFAs will be held much more accountable for customer outcomes, according to Caroline da Silva of the country’s main regulator, the Financial Services Board.
-
Returning expat pensioners to cost UK £1bn post-Brexit
Tens of thousands of expat pensioners across the EU may return to the UK if the country fails to secure reciprocal healthcare rights after Brexit, with the cost of treating them on the NHS likely to double, warns a report by health charity the Nuffield Trust.
-
Fraudster fined just £1 in £5m UK landbank scam
A scammer involved in one of the Financial Conduct Authority’s (FCA) biggest investigations into unauthorised investment schemes is to pay just £1 ($1.28, €1.15) in compensation to victims who were duped into investing more than £5m in three landbank companies.
-
Isle of Man watchdog to review unregulated funds
Isle of Man treasury minister Alfred Cannan has confirmed that the island’s Financial Services Authority (IOMFSA) is “undertaking a review” of unregulated funds and will “make appropriate recommendations for change”.
-
Advisers voice top concerns ahead of UK election day
The Conservative Party’s plans to introduce a so-called ‘dementia tax’ as well as uncertainty surrounding the Finance Bill are the top concerns voiced by UK advisers ahead of the country’s general election on 8 June.
-
Collapsed Australian investment firm bosses fined over A$600m
Five former executives connected to collapsed Australian finance group MFS have been ordered to pay more than A$600m (£350m, $450m, €400m) in compensation to investors by the Supreme Court in the state of Queensland.
-
Cristiano Ronaldo faces possible tax fraud charges
Real Madrid star Cristiano Ronaldo is facing possible tax fraud charges in Spain, days after fellow football legend and Spanish club rival Lionel Messi had his 21-month jail term for similar charges upheld.
-
Spain upholds jail sentence against Lional Messi
Spain’s Supreme Court has upheld a 21-month jail term handed down last year to Barcelona football player Lionel Messi and his father, although the pair are unlikely to go to prison.