The Australian Tax office has stepped in to reclaim a chunk of money owed to them by a former businessman involved in an alleged offshore money laundering scheme . Despite being in a prime location , the ATO has slashed the asking price in half of former Murchison Metals director and Sydney Swans backer , Phillip Grimaldi 's Sydney penthouse . Originally purchased by Grimaldi in 2007 for $ 3.5 million the stunning top-floor apartment on Hickson Road in Sydney was listed by Grimaldi for $ 4 million last year . The Australian Tax office has stepped in to reclaim a chunk of money owed to them by a former dodgy businessman . However , after failing to attract a buyer , the tax office took over and it has listed the property for a bargain price of $ 2.6 million . Grimaldi made headlines in 2009 for becoming involved in a Vanuatu-based money laundering scheme . He was subsequently hit with a $ 36 million tax bill as part of Project Wickenby , the nation 's largest tax probe . Despite being in a prime location , the ATO has slashed the asking price in half of former Murchison Metals director and Sydney Swans backer Phillip Grimaldi 's Sydney penthouse . Originally purchased by Grimaldi in 2007 for $ 3.5 million the stunning top-floor apartment in on Hickson Road in Sydney was listed by Grimaldi for $ 4 million last year . Grimaldi made headlines in 2009 for becoming involved in a Vanuatu-based money laundering scheme . 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 . Grimaldi was able to avoid tax by transferring millions of dollars through a number of New Zealand bank accounts . The money was then sent back to his Australian account and disguised as a consultancy fee , management fee or insurance premium . 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 . It was reported at the time that Mr Grimaldi used the proceeds of the scheme to buy a $ 300,000 Bentley . The tax office froze Grimaldi 's assets and he agreed to pay $ 36 million to the tax man . It was reported at the time that Mr Grimaldi used the proceeds of the scheme to buy a $ 300,000 Bentley . The tax office froze Grimaldi 's assets and he agreed to pay $ 36 million to the tax man . Fast-forward six years and the tax office have finally taken possession of his home . The whole-floor apartment overlooking Sydney 's breathtaking Darling Harbour boasts four-bedrooms , an enormous rooftop terrace and sun-drenched harbour views . Set in the highly regarded 'The Bond ' residential building , it 's right on the doorstep of Sydney 's Barangaroo and King Street Wharf . The 539sqm space also has three bathrooms , enough parking for three cars and a glass-wrapped living/dining room . The whole-floor apartment overlooking Sydney's breathtaking Darling Harbour boasts four-bedrooms , an enormous rooftop terrace and sun-drenched harbour views . Set in the highly regarded 'The Bond ' residential building , it 's right on the doorstep of Sydney 's Barangaroo and King Street Wharf . The 539sqm space also has three bathrooms , enough parking for three cars and a glass-wrapped living/dining room . Daily Mail Australia contacted the ATO , but they were unable to comment on the matter . 'Due to confidentiality provisions in the Tax Administration Act , the ATO can not comment on any individual 's or entity 's tax affairs , ' an ATO spokesperson said .
The Australian Tax Office is selling Phillip Grimaldi 's home . He tried to sell it 2007 for $ 4 million but did n't attract a buyer . The former business was involved in a money-laundering scheme . The ATO have now listed the property for $ 2.6 million .