A gold and diamond dealer has been hit with a $5 million tax bill by the Australian Tax Office, after exploiting his extravagent life on social media.
Colombian-born Alejandro ‘Alex’ Mendieta, 31, was served the $4,997,955 bill on October 12, for allegedly claiming GST credits on thousands of transactions he was not entitled to.
Those transactions include jewellery trades between 2014 and 2017, which includes almost $800,000 in interest, The Age reports.
Colombian-born Alejandro ‘Alex’ Mendieta, 31, was served a $4,997,955 tax bill on October 12 for allegedly claiming GST credits on thousands of transactions he was not entitled to
Mr Mendieta was served the hefty tax bill after his luxurious lifestyle on social media sparked an investigation by the Australian Tax Office
Mr Mendieta has transformed his business, Gold Buyers Melbourne, into a multimillion-dollar empire over the last six years.
The business turned over $66 million in the 2015-16 financial year, but it seems his luxury lifestyle gained unwanted attention by the ATO.
The gold-dealing millionaire is known for his playboy lifestyle, often hiring luxury boats in Sydney Harbour.
Mr Mendieta has transformed his business, Gold Buyers Melbourne, into a multimillion-dollar empire over the last six years
Mr Mendieta’s GST claims include jewellery trades between 2014 and 2017, which includes almost $800,000 in interest
The gold-dealing millionaire is known for his playboy lifestyle, often posing with his luxury cars
The hefty tax bill comes just weeks after Mr Mendieta was charged by police for the possession of stolen goods, recklessly possessing stolen goods and handling stolen goods, according to The Herald Sun.
The 31-year-old had his Melbourne jewellery store raided by police as part of an investigation into a series of armed robberies across the city.
Detectives from the Gangs Crime Squad raided three homes including Mr Mendieta’s penthouse, and his jewellery store in Melbourne’s central business district.
Mr Mendieta’s Lamborghini was seized by police, as was cash, gold and silver, precious stones and gold bullion the police believe to be stolen or the proceeds of crime.