A plan is being hatched by prominent Operation Wickenby stakeholders to approach the new Labor government to seek a once only moratorium for suspects caught up in the former Liberal government probe to come forward and voluntarily confess their offshore sins, much like the tax office offshore voluntary disclosure initiative announced mid year. The plan includes suspects paying any tax owed with 5% penalties applied so long as they are not going to be prosecuted and sent to jail.

This comes after key Wickenby suspects MM and DD lost their Federal Court challenge yesterday over the Australian Crime Commission’s (ACC) right to keep documents subject to legal professional privilege. Their names have been suppressed by the courts; however, one has been described as a financial adviser, the other as his client, an offshore resident who used to live in Australia.