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Second-hand car dealer sentenced on tax evasion charges

 

An Auckland second-hand car dealer has been sentenced for helping the companies he ran evade more than $300,000 in GST, PAYE, and income tax.

Adam Bsisou ran a number of businesses under the brand “Fast Fours” which specialised in luxury second-hand cars. He was sentenced on 9 February 2022 to 7 months home detention, six months post detention conditions and ordered to pay $315,480.75 reparation.

Inland Revenue began investigating Bsisou in 2014. The investigations showed he’d filed modest or nil income tax returns yet had a beneficial interest in eight Auckland properties, one of which was sold in 2015 for $2.4m.

In November 2016, Inland Revenue investigators searched his office and home, cloning computers and devices with relevant business records. In 2017 Mr Bsisou’s businesses were put into liquidation owing creditors more than $2m.

Interviews with employees confirmed that many employees received commissions or bonuses in cash.  Some staff had their wages topped up with cash payments by Mr Bsisou.  The Investigation also identified that false deductions were taken for fictional expenses that had not been incurred by the companies concerned.

Between 2011 and 2015 there were 19 payments made to relatives or associates but coded as purchases to the companies.

Last updated: 16 Mar 2022
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