Friday, December 17, 2010

Greed is good?

So said Gordon Gekko.

Maybe not so much, huh?

Businessman jailed for money laundering
The Sydney Morning Herald -

A successful Sydney businessman whose money laundering led to him evading up to $2.4 million in tax has been jailed for at least four years nine months.

Justice Peter Johnson said Michael John Milne had acted out of "personal greed" and that the proceeds which flowed to him were used essentially to buy luxury items and real estate.

In sentencing him in the NSW Supreme Court today, the judge said Milne's criminal conduct could be characterised as "being planned, deliberate and deceitful".
Last month, a jury found Milne, 55, from Neutral Bay in Sydney's north, guilty of money laundering and providing false income tax information to obtain a Commonwealth gain.

The rest of the story: