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A broker has been sentenced to more than six years behind bars after he stole his client’s details to defraud the Australian Tax Office (ATO) out of more than $1.3 million.
Victorian broker Matthias Sedlbauer was sentenced to six years and six months’ jail earlier this month after pleading guilty to 121 charges involving fraudulent use of client information to claim false energy grant and fuel tax credits.
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The offences took place over a three-year period from December 2005.
According to the ATO, Mr Sedlbauer was “in a position of trust where clients supplied him with proof of identification for what they thought were legitimate purposes. He subsequently used these details to commit fraud against the Commonwealth”.
Mr Sedlbauer's mortgage business collapsed last February and he has since been left with no assets and is living off the dole.
Defence barrister Jason Gullaci said Mr Sedlbauer had used the money to fund his expensive drug habit, which could cost him upwards of $,1500 a day.
“Almost all the money was spent on cocaine. He had this chronic cocaine addiction,” Mr Gullaci told News Limited.
ATO deputy commissioner, Greg Williams, vowed to continue upgrading and improving automated detection methods and to work closely with partners in government, law enforcement and industry to weed out frauds.
“Our increasingly sophisticated information matching capabilities enable us to catch those cheating the system and protect the overall integrity of the tax system,” Mr Williams said.
“The Tax Office is committed to protecting the community from tax crime, including false fuel tax credit claims. Where necessary, the ATO will use the full force of the law to deal with those who intentionally abuse tax and super systems.”
