In late 2005, Andrew Binetter, the then chief executive of Australian juice business Nudie, described to officers working at Israel Discount Bank (IDB) how the family venture had taken off.
Binetter, who was a co-founder and appointed CEO of Nudie in 2005, told the bank: “We are getting a lot of good financial press in the Australian business media.”
“We have even been in discussion with a Richard Branson company with a view to acquiring it,” according to an affidavit produced by Binetter during a subsequent tax appeal against the ATO.
He went on to explain how private equity business CHAMP had invested in Nudie, taking its valuation at the time to $29…
Read the full article at: http://www.smh.com.au/business/retail/how-the-founders-of-sweet-juice-company-nudie-went-sour-with-lies-and-tax-evasion-20161121-gsujlf.html