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A man from Melbourne who attempted fraudulently to claim more than $ 5 million in GST refunds has been arrested.
Michael Ray, 38, was sentenced to five years in prison in Victoria District Court on Monday after pleading guilty to conspiracy to dishonestly make a profit from the Commonwealth.
The South Melbourne man was among three people identified as members of a Victoria-based fraud syndicate that had plotted to raise more than $ 5 million through the GST system.
The system, which ran from November 2010 to December 2012, was designed to steal personal information.
The identity details were used to create fake entities and register for GST. Business activity statements were then filed to claim the false refunds.
The refunded tax money was then transferred to bank accounts created with stolen identities.
Ray shared more than $ 2. 5 million was raised through the program, but detectives say the ultimate goal was twice that.
A joint investigation between the Australian Federal Police and the Australian Tax Office in May 2017 identified and accused Ray as one of the fraudsters.
More than $ 1 total. 5 million were confiscated when police raided multiple properties and lockers in Melbourne.
« But there is a small percentage of people who purposely abuse the tax and super system for their own financial gain.
Mr Read said identity theft victims of the program received assistance to put their affairs in order.
Tax on goods and services, imprisonment, Australian tax office
World news – AU – Vic scammers jailed over 5 million. USD GST system
. Associated title :
– Vic scammers over 5 million. USD GST system imprisoned
– GST scammers convicted of multi-million dollar system
Ref: https://7news.com.au
