INSIDE: FORMER TAX CHEAT BUYS $2.3M PROPERTY
Comeback businessman secures riverfront home
A GOLD Coast businessman jailed for his involvement in one of Australia’s biggest ever tax evasion stings has continued his comeback by splashing out on a lavish dream home in Ashmore.
Property records show Adam John Hargraves, 47, last month paid $2.295 million on a waterfront home in luxurious Riverbank Ct.
The sellers were Cheryl and Rodney Gilchrist – directors of the registered charity Dream Centre Church, of which Mr Gilchrist is also CEO, chairman and pastor.
The vast six-bedroom, seven-bathroom home is on 1244sq m of riverfront land and features its own jetty, jetski docks, library with fireplace, gym, 10-seat theatre and separate self-contained apartment.
The Gilchrists bought the property 15 years earlier for $800,000.
It is not the only property splash Mr Hargraves, who declined to comment on the purchase, has made since his release – property records show he spent $5.25 million on a lavish home in Southport’s Korong St in 2013.
Mr Hargraves and his business associate, Daniel Aran Stoten, were jailed in 2010 for six-and-a-half years after avoiding more than $2 million in tax. Their sentence was reduced to five years on appeal.
The pair were shareholders in Broadbeach-based Phone Directories Company (PDC) and were charged under the decade-long Wickenby taxscam investigation involving some of Australia’s top entrepreneurs and celebrities such as Glen Wheatley, Paul Hogan and John Cornell.
Mr Hogan and his creative partner Mr Cornell, confidentially settled their disputes with the ATO.
Music entrepreneur Wheatley was jailed in 2007 after admitting to tax evasion charges for failing to pay $318,000 in tax.
Mr Hargraves has rebuilt his business career as co-chief executive of Robina-based digital marketer Localsearch.