ATO SCANDAL WIDENS
The fallout continues from what's being called the biggest white collar crime in Australian history. Raids yesterday by 300 Australian Federal Police on 28 premises led to nine arrests -- including two children of a deputy commissioner -- and revealed an alleged tax fraud syndicate worth $165 million.
The Australian calls it an "unprecedented crisis" for the Australian Tax Office, with Deputy Commissioner Michael Cranston facing two charges of abusing his power to seek information about an investigation into tax fraud by his son, Adam Cranston, while also detailing the "fast cars, luxury properties, expensive watches and guns" the syndicate accrued. The Australian Financial Review records the tax industry "shock" over the ATO veteran of 35 years pending arrest.