Wickenby freezes potato king's $40m

Operation Wickenby has frozen more than $40 million in assets belonging to potato king Paul Rennie.

The Federal Court has heard that Mr Rennie, of Hillston, north of Griffith, expects to be charged with defrauding the Commonwealth, obtaining financial advantage by deception and dealing in the proceeds of crime.

The court has also heard allegations of tax-avoidance schemes, dating back to 1997, involving fake loans, sham transactions with companies in overseas tax havens, and millions of dollars held in a Swiss bank account.

Wickenby, a joint investigation involving the Tax Office, Federal Police and the Australian Crime Commission, focuses on transfers of money overseas to avoid tax.

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