Racing cars

Son of ATO Deputy Commissioner Spent $ 200,000 on Race Cars Before Arrest

Adam Cranston survived a horrific race car shunt last August, while his own life became a slow-motion car crash.

They are also targeting the property of the other eight people accused of alleged fraud.

So far, up to $ 71 million in assets, including boats, homes, motorcycles and bank accounts, have been stranded, but millions have remained unpaid.

Former ATO deputy commissioner Michael Cranston resigned from the agency in June.

Former ATO deputy commissioner Michael Cranston resigned from the agency in June.Credit:Pierre Rae

It was revealed Thursday, in an affidavit from an AFP officer, that Adam Cranston allegedly spent more than $ 200,000 on racing cars for an event in April.

On May 18, AFP raided a property in Dudley Park, South Australia, and found two Wolf GB08 Tornado prototypes, a Firman F100 race car, 12 race car tires, gold rims and boxes. tools.

Adam Cranston, with his fiancee Elizabeth Rouhliadeff on October 15, 2016. This car was seized during an AFP search of his Bondi home.

Adam Cranston, with his fiancee Elizabeth Rouhliadeff on October 15, 2016. This car was seized during an AFP search of his Bondi home.Credit:Facebook

An article posted on an auto industry website in April reported how Synep Racing Pty Ltd would enter the Wolf vehicles in the first round of the Australian prototype series.

Adam Cranston, who was the sole manager of Synep Racing, and his brother Josh were going to drive the cars.

Adam Cranston saw his assets frozen by the Australian Federal Police.

Adam Cranston saw his assets frozen by the Australian Federal Police.Credit:PAA

Bank statements showed that $ 239,000 had been withdrawn from an account at Westpac Bank, of which Adam Cranston was a signatory, in early March.

It was transferred through another account – held under Synep Racing Team Pty Ltd – before $ 203,000 was deposited into Banca Popolare Di Sondrio, an Italian bank account.

According to the affidavit, parts of which have been redacted, Wolf racing cars are made in Italy and the transaction was for “payment for 2x racing cars”.

The Synep Racing Team company changed its name on May 22 – four days after Adam Cranston’s arrest – and the registered manager was Aaron Steer.

However, AFP ruled that the cars were owned by Adam Cranston.


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