Found article by reverse image searching OP. Hard to really pick out a paragraph that summarises it: https://www.edministrate.com.au/blo...l-taxman-probes-ex-afl-boss-demetrious-loans/What's going on?
Acquire’s former directors — racing identity John Wall, Jesse Sahely, Damien Dau and Mr Demetriou’s nephew, Tim Demetriou — are likely to be grilled under oath as part of the probe, which a court has heard will question what happened to $15m loaned to shareholders, including Andrew Demetriou, and involve a “forensic investigation into misappropriation of funds”, taking in the fate of $22m in overseas transactions.
The ATO is also keen to get its hands on assets, including multi-million-dollar mansions and luxury cars, that it suspects Acquire’s directors failed to disclose to the company’s administrator, a blockbuster Federal Court affidavit sworn by the ATO’s director of significant debt management, Aris Zafirou, reveals.
Andrew Demetriou was never registered with ASIC as a director of Acquire.
But the government departments, which together pumped $107m in contract payments and student loans into Acquire and another $223m into training companies that were formerly subsidiaries of the company, threw their weight behind the ATO effort to ditch the DOCA.
There was “significant public interest” in investigating Acquire because of its “disgraceful” high-pressure sales tactics, exposed in a lawsuit brought by the Australian Competition & Consumer Commission that resulted in a $4.5m fine for Acquire, and the “use of intercompany loans and transactions to divert significant amounts of public funds obtained” under the VET FEE-HELP student loan scheme, federal Education Department official Richard Chadwick said in a letter of support sent to the ATO on June 20.