article_snippet: Phillip Grimaldi's made headlines in 2009 for becoming involved in a Vanuatu-based money laundering scheme.
article_snippet: Phillip Grimaldi's made headlines in 2009 for becoming involved in a Vanuatu-based money laundering scheme .
article_snippet: It was thought the business mogul had more than $55 million sitting in bank accounts in Australia and New Zealand, as well as tens of millions of shares in listed Australian companies.
article_snippet: Phillip Grimaldi's was able to avoid tax by transferring millions of dollars through a number of New Zealand bank accounts.
article_snippet: The money was then sent back to Phillip Grimaldi's Australian account and disguised as a consultancy fee, management fee or insurance premium.
article_snippet: The money was thought the business mogul had more than $55 million sitting in bank accounts in Australia and New ZealandAustralia and New ZealandNew Zealand, as well as tens of millions of shares in listed Australian companies .
article_snippet: The money was reported at the time that Phillip Grimaldi's used the proceeds of the scheme to buy a $300,000 Bentley .
article_snippet: The tax office was reported at the time that Mr Grimaldi used the proceeds of the scheme to buy a $300,000 Bentleythe scheme .
highlights_snippet: The former business was involved in a money-laundering scheme .
  