CVC Property Fund announced yesterday that Vanda Gould has stepped down as chairman immediately following his arrest last week on tax fraud allegations along with CVC Limited director John Leaver.
Last week Vanda and Leaver along with a Belgian national, Peter Borgas were arrested by the Australian Federal Police.
The AFP and Australian Taxation Office said in a statement that the three men have been charged with tax and money laundering offenses relating to the transfer of $30 million.
Leaver is currently a director of ASX-listed venture capital company CVC Limited.
The trio have appeared in the Downing Centre in Sydney and bail was granted. For Leaver, it was set at $100,000 which superseded a $5 million surety if he were to breach the strict bail conditions, including reporting to police three times a week.
For Gould, bail was set at $2 million along with similar conditions of reporting to police. Finally Borgas did not have to pay bail because he was a foreign national.
The trio will be back in court for a hearing on January 28 2014.
CVC Property Fund said in a statement that it will review the board and further changes will likely be made.
“Any future changes to the board will be made to ensure it continues to have the appropriate mix and depth of skills,” the company said.
Property Review
