Melbourne investment adviser dies in Azerbaijan owing $16 million in tax

  • 📰 theage
  • ⏱ Reading Time:
  • 50 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 77%

Business News News

Business Business Latest News,Business Business Headlines

The death of a former Melbourne businessman in Azerbaijan leaves many unanswered questions and a string of angry creditors.

A former Melbourne businessman, who was the subject of a money-laundering investigation in Singapore and owed more than $16 million to the Australian Tax Office, has died in Azerbaijan.

Described as impeccably dressed and a member of the Hillsong Church in Melbourne, the 51-year-old was considered otherwise unremarkable by former employees.has been unable to confirm the cause of Mr Allen's death, but mourners at his funeral on October 8 were told he had succumbed to COVID-19 complications, while a former associate claimed he had taken his own life.

Mr Allen told clients his firm offered the best investment opportunities across the Asia Pacific region, but he also spent significant periods of time in the Cayman Islands and the Russian city of St Petersburg.Mr Allen relocated to Hong Kong with his wife and young child in about 2016, according to corporate records. About the same time, the Australian Tax Office began to audit his business affairs.

However, a liquidator's report into the collapse of another company owned by Mr Allen raises serious fraud allegations and also reveals he owed $16,001,520 to the Australian Tax Office.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Police search for Ford Falcon sedan following five business break-ins north of AdelaideSA Police are looking for a Ford sedan after five businesses north of Adelaide's CBD were broken into overnight.
Source: abcnews - 🏆 5. / 83 Read more »