Adam Cranston investment Vaucluse property up for mortgagee sale

The Vaucluse house owned by the alleged mastermind behind Australia’s largest tax fraud, Adam Cranston, is up for mortgagee sale.

It seems set to be sold for a loss on its $2.4 million purchase in 2015 by Cranston and his nominated company.

He awaits trial for his role in the Plutus Payroll syndicate accused of misappropriating more than $130 million owed to the Australian Tax Office from pay-as-you-go payments.

The three-bedroom Vaucluse house has a swimming pool and ocean views from the second level.

It is listed mortgagee-in-possession with a $2.1 million guide though LJH.

It was originally bought in a company name of Harmon International Holdings, set up by Cranston’s sister Lauren, in 2014, and later transferred to Four Macdonald Pty Ltd.

Title records show the NSW Supreme Court ordered the sale of the property following the Federal Police applying for a court order under the proceeds of crime legislation.

Cranston was arrested two years ago, and his assets seized and finances frozen.

At the time Cranston was arrested at the Bondi Beach townhouse he shared with his wife Elizabeth Rouhliadeff.

It was bought for $1,222,000.

It sold earlier this year for $1.3 million.