So finally the Serious Fraud Office has charged Mike McDonald and he’s appeared in court:
Tax agent appears in court on fraud charges
A tax agent facing 18 charges laid by the Serious Fraud Office has appeared in the Manukau District Court.
Michael Robert McDonald, 40, has been a registered tax agent since 2002 and faced four charges of theft by a person in a special relationship, 13 charges of dishonestly using a document and one charge of false accounting.
In his role as a tax agent, McDonald filed GST, PAYE and income tax returns on behalf of clients and their related entities.
He was alleged between 2007 and 2013 to have received money from some of his clients for the purposes of paying tax but failed to forward the money to the Inland Revenue Department.
He also allegedly filed about 250 false GST and income tax returns to receive money from Inland Revenue or to retain client funds that he was not entitled to.
The Serious Fraud Office (SFO) has also charged McDonald for allegedly making false entries in one of his client’s financial statements in order to hide his offending.
McDonald was remanded on bail without plea and his next appearance was set down for December 11.
SFO director Julie Read said the misuse of money by professional advisers was a breach of professional standards and undermined the confidence of the community.
“New Zealanders need to rely on experts when dealing with complex financial matters and it is critical that such professionals demonstrate that they are worthy of the trust placed in them,” she said.
So good to see this happening. Will be interesting to see what happens to him.