KPMG duo frustrated as star examinee misses 2nd PE

KPMG’s Gayle Dickerson and Stephen Vaughan must have strained shoulders shrugging off Gino Cassaniti’s no shows after the western Sydney businessman again failed to appear for public examination (PE) in relation to RC Group (Aust) Pty Ltd (RC Group).

Cassaniti’s non-attendance meant the scheduled PE by senior counsel Tony McInerny SC had to be abandoned.

Unlike the previous week when Cassaniti didn’t front and the allocated court time was utilised to question others, last Friday was lost because it was intended to be a one man show.

Cassaniti is among a number of individuals the KPMG pair have had summonsed in relation to RC Group and Banq Accountants and Advisers, the controversial accounting firm whose referral relationship with deregistered liquidator David Iannuzzi is at the heart of the ATO’s Project Cargo probe into alleged illegal phoenixing and tax evasion.

Cassaniti has been identified as a principal of Banq by other examinees including Iannuzzi and is also linked to Banq through his wife who is a part owner.

He has not been charged with any offence and iNO makes no suggestion of wrongdoing.

Before it was wound up and subsequently deregistered some $29 million come in to RC Group. Not bad for a labour hire company.

The funds however also exited and the ATO, which last year had the company’s registration reinstated after Iannuzzi and the late Murray Godfrey wound it up in 2015, is funding Dickerson and Vaughan to find out where those funds went.

In the aftermath of the Friday non-event Federal Court Registrar Susan O’Connor made orders that provide some fuel for speculation if not a basis for genuine insight as to what might be happening with Cassaniti’s failures to appear.

“By 5:00pm on Monday, 19 October 2020, Ms Ivana Cassiniti re-swear and re-file her affidavit of 15 October 2020 with redactions removed and stating her current residential address on page 1 of the affidavit,” Registrar O’Connor ordered.

Ivanna Cassaniti? The absentee examinee’s wife? What might the missus have to depose to in respect of her husband’s non-compliance?

Delving back into Registrar O’Connor’s orders may offer a clue.

Gino Cassaniti’s examination has been stood over till November 23.

Might an inconvenient illness, details of which are best attested to by the sufferer’s spouse, be preventing Cassaniti from fronting in the flesh?

Inconvenient for Dickerson and Vaughan at least, who must wait a month for the next chance to PE their star examinee. Support INO’s continued chronicling of the insolvency sector.

Further reading:

Arrest Threat For Alleged Phoenix Mastermind