(Wake up Puerto Rico!! Our similar situation is what is destroying our island!)
Unholy mess as $300 million tax scandal plays out across Sydney, Australia.
It's the product of a seven-year investigation by the inter-agency Project Wickenby, which targets international tax avoidance schemes."This is the worst case I have come across in my entire career," Justice Nye Perram said during the preliminaries for a costs hearing in the Federal Court in February, of a five-year legal battle over who owned a series of offshore companies that had escaped paying Australian tax.
Justice Perram ordered copies of his December 2014 judgment in the case to be sent to the Director of Public Prosecutions, the Australian Securities and Investments Commission and the Australian Federal Police.
He concluded a scathing judgment: "The facts I have found strongly suggest widespread money laundering, tax fraud of the most serious kind and, possibly in some instances, insider trading. The conduct revealed in this case is disgraceful."