Last Wednesday (11 February), the Federal Court of Australia allowed liquidator Peter Krejci to proceed with his winding-up application against Teddy Panella, Sam Cassaniti and Armstrong Scalisi Holdings, trading as Sydney accounting firm CAP Accounting.
Krejci alleged that Cassaniti was behind a tax avoidance scheme that utilised various labour hire companies to divert funds that should have been remitted to the Deputy Commissioner of Taxation (DCT), on account of PAYG tax liabilities, to third parties.
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The liquidator, whose legal action was being funded by the ATO, claimed that the companies allegedly controlled by Cassaniti owed the DCT over $14 million in losses…