Tech entrepreneur at centre of alleged $165m tax fraud syndicate arrested at Sydney airport

The former chief executive of a company at the centre of an alleged $165 million fraud syndicate has been arrested at Sydney Airport.

The Australian Federal Police (AFP) allege Simon Anquetil, a 34-year-old Lavender Bay entrepreneur, conspired to defraud the Commonwealth of tax revenue.

He is the tenth person to be arrested over the bust and could face ten years in prison.

The St Aloysius' College alumnus was arrested yesterday as he arrived back in Australia from Europe. It is understood he returned home voluntarily after police contacted him.

Mr Anquetil is the former head of Plutus, the payroll company accused of siphoning tax dollars paid by employees.

It is alleged Plutus was paying the ATO less money than it should have for the workers’ wages each month. The money was allegedly being skimmed by “second tier” companies and distributed amongst those involved in the scheme.

Mr Anquetil faced a Sydney court today via video link. He was released on strict bail conditions after paying $100,000.

He is not allowed to communicate with his co-accused while out on bail.

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Mr Anquetil’s co-accused include the son of ATO Deputy Commissioner Michael Cranston.

Mr Cranston was also issued with a court attendance notice and is expected to be charged with abusing his position as a public official.