Former Assistant Tax Commissioner Nick Petroulias Charged with Multiple Fraud Offences
by Bill Giannopoulos · Greek City TimesFormer assistant tax commissioner Nick Petroulias has been charged with multiple fraud offences, including obtaining financial advantage by deception and using false documents.
The charges stem from a long-running investigation by the Independent Commission Against Corruption (ICAC) into corrupt property dealings involving the Awabakal Local Aboriginal Land Council (ALALC).
Four years after the ICAC’s final report in 2022, which found serious corrupt conduct and referred the matter to the NSW Director of Public Prosecutions, Mr Petroulias, his then-partner lawyer Despina Bakis, and former ALALC deputy chairperson Richard Green now face court.
The Alleged Scheme
The ICAC investigation, known as Operation Skyline, examined proposed property deals between the ALALC and Gows Heat Pty Ltd — a company secretly controlled by Mr Petroulias.
According to the ICAC, the trio allegedly engaged in a scheme involving “sham” agreements that falsely granted Gows Heat an option to purchase five NSW properties owned by the Land Council. These rights were then intended to be on-sold to a third party, Sunshine Property Investment Group Pty Ltd.
The commission found that Ms Bakis, acting as lawyer for both parties, allegedly prepared false contractual documents, while Mr Petroulias altered board meeting minutes without the ALALC board’s knowledge or approval.
More than $1 million from Sunshine allegedly ended up with Mr Petroulias’ company instead of the Land Council. The money trail reportedly passed through 63 different bank accounts to disguise its source and use.
The ICAC also found that Mr Petroulias falsified documents to conceal his involvement, including allegedly stealing a deceased person’s identity to appoint him as a director of the company. He is accused of receiving $1,023,934 from the scheme.
Ms Bakis is alleged to have used a false identity (“Daphne Diomedes”) to obtain a passport, driver’s licence, and open multiple bank accounts and credit cards.
Mr Green faces additional charges of misconduct in public office. The ICAC found he received a Mercedes and part of the proceeds, which he used in part to purchase a tip truck and excavator.
All three are due to appear in court on 23 July.
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