Australia's biggest ever investigation into tax evasion has netted another scalp - a prominent Sydney businessman.
Federal agents raided the 52-year-old man's home at Neutral Bay yesterday as well as his office in Sydney's CBD.
He is the director of seven companies here in Australia has is accused of avoiding to pay tax through an intricate network of local and offshore companies.
He's been charged with obtaining a financial advantage by deception and dealing with the proceeds of crime worth more than one million dollars.
The businessman is facing up to 25 years imprisonment and will face Central Local Court today.