Adam Cranston has denied that he conspired to defraud $105 million from the tax office, saying he believed Plutus Payroll was above board when he acquired the business in 2016.
When his company Synep took over Plutus for $5 million in June 2016, Cranston says he was assured the firm was profitable and remained unaware that PAYG and GST payments had been siphoned off which were supposed to go to the Australian Taxation Office.
