An accountant accused of running a $100 million tax fraud scheme has been remanded in custody at a Sydney court for the second time this week.
Australian Federal Police (AFP) say 58-year-old Robert Agius was behind a scheme that involved money being transferred offshore disguised as consultancy fees through a Sydney accounting firm.
They say the money was funnelled back to Australia as tax-deductible loans.
Agius, an Australian who is the senior partner of a company in Vanuatu, allegedly took almost $1.5 million in commissions.
The AFP say 20 more people are involved in the scheme and failed to pay $13 million in tax.
Authorities have warned up to 400 clients they are also being investigated and could owe the Tax Office millions.
Agius was arrested in Perth on Monday after a two-year probe as part of Australia's biggest tax fraud investigation, Project Wickenby.
He was supposed to make a bail application at Central Local Court today but his lawyer said he needed more time to prepare.
The magistrate adjourned the matter until next week and Agius was refused bail.
Agius has described the charges as "trumped up, nebulous and facetious".
The AFP conducted raids in Sydney, Vanuatu and New Zealand on the day of his arrest.
He was extradited to Sydney the following day.
