Caratti raided in ATO probe
Australian Federal Police officers yesterday raided the home and offices of one of WA's richest men amid a joint investigation with the tax office.
The raids on Allen Caratti's Applecross mansion and office buildings in East Perth come after what is understood to be tax office probes into the collapse of companies linked to Mr Caratti and his business associates.
Tax officials joined uniformed and plain-clothes AFP officers in raids on his corporate headquarters after police had secured the modern office building and a neighbouring old warehouse.
An AFP spokeswoman confirmed the raids were part of a joint probe with the tax office.
"Because it is part of an on- going investigation, it is not appropriate to comment further," she said.
Mr Caratti has a major stake in a family business empire owned with his estranged older brother John and inherited from their late father, Mick Caratti.
Their joint business empire has assets estimated to be worth more than $400 million and includes extensive rural landholdings across southern WA and industrial landholdings across Perth.
Allen Caratti last decade separately embarked on an array of land development ventures with close business associates.
Those ventures, which have led to legal actions by John Caratti, included a $100 million-plus northern suburbs development with businessman Kevin Trevor Pollock, after Mr Pollock's business empire started collapsing 12 years ago.
Despite selling 800 lots in Hocking and Wanneroo, the Caratti-linked Hocking Land Company collapsed in 2011 owing $2 million in allegedly unpaid tax and penalties.
About 12 companies linked to Allen Caratti and his business associates have collapsed owing millions of dollars to the tax office and other creditors.
Tax officials have been taking individual recovery actions against some of Allen Caratti's associates, but yesterday's raids are the first known activities involving police.
Mr Caratti declined to comment at the East Perth scene yesterday and could not be contacted later.
