A number of Australian properties have been frozen by Asian businessmen for tax evasion in 7.5 million. (photo by the Western Australian newspaper)
According to the Western Australian newspaper, a mysterious Asian businessman named (Wei Hsiung "Francis" Chen, is believed to have earned millions of Australian dollars from the sandalwood trade and was recently accused of tax evasion of 7.5 million Australian dollars. Its three properties in Perth have been frozen by federal courts and are facing criminal charges over illegal export of expensive timber.
Mr. Chen and his family have reportedly run sandalwood processing and marketing company Sandalwood Passion for 15 years, but the company`s online or marketing information is virtually non-existent. Business documents show that the company is headquartered in a beach property in (Warnbro), Warnibo.
The beach property, along with two other Perth properties, as well as other properties in Queensland and New State, were frozen by federal court judge Colvin (Craig Colvin) last week after the Australian Revenue Authority (Australian Taxation Office) filed an urgent complaint.
Mr Chan has owed more than A $7.5 million in taxes since 2008, the Australian Revenue Authority said.
The Australian tax Authority also revealed that under the Federal Export Control Act, (Commonwealth Export Control Act), Chen Wei-hsiung faces 42 charges for his business practices.
Next month, Chen Weixiong will face another trial in Perth District Court (Perth Magistrate`s Court).
In his affidavit, senior tax officials told Judge Colvin that although Mr Chan was an Indian citizen, his sandalwood business had been based in Perth for years.
The Australian Inland Revenue Authority conducted an audit of Mr Chan`s financial position, which reportedly showed undisclosed revenues of up to millions of Australian dollars between 2008 and 2016.
The report also shows real estate information about Mr Chan in Western Australia, New York, South Australia, Kunzhou and India. Tax officials said the assets should all be frozen so that Mr Chan would not be able to "withdraw [these assets] from Australia." Or dispose of, or reduce the value of (these assets) in any way ".
The assets include a separate house in Warnibo, a CBD apartment in Perth, an apartment in South Australia, a (Ultimo) apartment in Otien Mill and a stand-alone house in Queensland.
A federal lawsuit against Chen Weixiong will be reopened next Wednesday.
