CasinoCityTimes.com

Gurus
News
Newsletter
Search News Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Related Links
 

Tax Fraud Wins Australian Gambler 10 Years

10 August 2005

VICTORIA, Australia -- As reported by Port Vila Presse: "A gambling addiction, blind ambition and a desire to flaunt his riches led Keith Jonathan Fernandez to play a central role in one of the biggest stamp duty frauds in Victorian history — a role for which he was sentenced to at least seven years' jail yesterday.

"County Court judge Leo Hart sentenced the accountant, 36, who failed to pass on $10.1 million in tax to the State Revenue Office, to 10 years' jail with a non-parole period of seven.

"Fernandez, a former director of now-liquidated TQM Legal and Accounting, stole the money from February 1998 to November 2000. Through the company, which serviced the legal profession and conveyancing industry, Fernandez collected more than $15 million in duty but declared only $5 million to the State Revenue Office.

"He poured the stolen money into offshore betting accounts, with $3.1 million paid in 38 cheques to Dialabet, a Vanuatu-based phone betting service.

"He also gambled more than $500,000 at the Crown casino, losing almost half that amount..."

< Gaming News