Australia – New South Wales Supreme Court orders Plutus Payroll to be liquidated (ARN Net)

The New South Wales Supreme Court has ordered Plutus Payroll, a payroll provider, which was at the centre of what has been described as the “biggest white-collar fraud case in Australian history”, to be wound up and liquidated, reports ARN.

The decision, which was handed down yesterday, comes after it was discovered that Plutus Payroll had allegedly been funnelling wage payments through several sub-contracted ‘second-tier’ companies. This had impacted a number of labour hire firms (the Australian term for staffing companies) that have outsourced their payroll operations to Plutus.

Labour hire firms had been attracted to services as it paid them fees of AUD 1,000 (USD 744) per referral. Even labour hirers with their own payroll organisations were tempted to use Plutus’ services.

Plutus Payroll’s tax fraud against Australia’s federal government was estimated to be up to AUD 165 million (USD 128 million).

Source: Australia – New South Wales Supreme Court orders Plutus Payroll to be liquidated (ARN Net)