Operation Wickenby suspect Philip Eric de Figueiredo bailed in Jersey

Blair Speedy | January 02, 2009
Article from: The Australian

THE head of a Swiss accounting firm at the centre of the $300 million Operation Wickenby tax fraud investigation was yesterday granted bail on strict reporting conditions, as the Australian Government seeks to extradite him on charges of fraud and money-laundering.

Philip Eric de Figueiredo, a principal of accountancy firm Strachans, was arrested in Jersey on Wednesday following a request from Australian authorities, pending a formal request to extradite him over his alleged involvement in several tax evasion schemes.

Mr de Figueiredo was yesterday brought before the Magistrates Court in Jersey, a British Crown dependency off the northern coast of France renowned as a tax haven, and released on bail.

A spokeswoman for Attorney-General Robert McClelland said: "His arrest is the result of successful international crime co-operation between Australian and Jersey authorities."

The Rudd Government has four weeks to submit a formal extradition request to the Jersey authorities.

Australian Crime Commission acting chief executive Kevin Kitson said the arrest wasa major step forward for Operation Wickenby, which began in 2004.

"The ACC views this as a significant result for Operation Wickenby and its pursuit of abusive tax haven arrangements," Mr Kitson said.

An ACC spokeswoman declined to comment on whether similar steps had been taken to detain Mr de Figueiredo's fellow principal at Strachans, Philip Egglishaw, who is believed to be based in Monaco, another European tax haven.

Mr Egglishaw and his clients were the original targets of Operation Wickenby, which has so far led to 28 people being charged and three convicted, while recovering more than $84 million and raising a further $265 million in liabilities. Hundreds of Australians are believed to have used Strachans-controlled companies to evade paying millions of dollars in tax.

Music entrepreneur Glenn Wheatley is the only Strachans client to have been jailed on charges stemming from the investigation. He completed a 15-month sentence of prison and home detention in October last year.

Also under investigation are actor Paul Hogan, his artistic collaborator John Cornell and their financial adviser Tony Stewart. All deny wrongdoing.

Celebrity lawyer Michael Brereton, whose offshore dealings sparked the Wickenby investigation, last month won a major victory against his accusers when the Australian Taxation Office was forced to repay about $1 million to him.

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