Updated March 31, 2020 07:04:13 MCP founder and chief executive, Matthew McConaughey, says the company’s financial results in the 2015 financial year were misleading because the corporation failed to properly declare expenses and pay taxes.
The company’s Australian arm, MCP Holdings, has been fighting a $7 million tax bill for more than a year.
Mr McConaughy said he would be forced to take legal action to clear his company of the tax bill.
“It’s a matter of justice.
I am fighting a civil matter,” he said.
“I am very proud of the way our business has grown and the fact that it’s been able to do so while maintaining a low tax burden.”
The former MCP CEO has been the subject of multiple probes into his role in the company and the allegations have prompted a series of investigations into the company.
Mr MacConaughys former wife, Jennifer, has also been the focus of a criminal probe into the MCPs alleged involvement in her son’s suicide.
MCP had been forced to lay off workers in 2016 amid concerns about its financial condition.
“We did it because we had to.
That was the only way we were going to get back to profitability,” Mr Mcconaughy told ABC Radio’s The Drum.
“The MCP Corporation had to go.
They had to pay it.
The corporation had to be in the black, and I didn’t believe that.”
Mr McClanahan said the company had “lost money” and that it was “in danger of going out of business”.
“The corporation was in the red and that’s why we took it over and started MCP,” he told the ABC.
“And I can tell you, it’s a very tough pill to swallow, but it’s the only option that we have.”
Mr Mac Conaughy is due to face a court trial in April over allegations of tax evasion and misconduct, which include “improper and misleading” declarations of expenses and tax credits.
The case is set to go to court in the Federal Court of Australia on March 27.
Mr Justice Peter McClellan told the court that Mr McConnaughy had failed to declare his income in accordance with the Corporations Act, and that his claims of “substantial losses” to the company were not justified.
“You do not have a duty to declare,” Mr McClellan said.
He added that the “substantially” loss figures were not supported by the company financials.
MCSL has also launched an investigation into MCP.
“MCP Holdings is seeking to resolve this matter,” a spokesman said.
Mr McCllllan’s decision to pursue the matter has sparked concerns that the MCSLA may also be investigating MCP and MCP will be forced by the MCC to make a declaration.
“When it comes to these matters, the court will have to make the determination,” Mr Mac Connaughy’s lawyer, Mark Hirsch, told the Melbourne Magistrates Court.
MCC chief executive Peter Macdonald said in a statement: “Matthew McConahan’s recent statement in relation to the MCA and MCSLC’s investigation of MCP have not been accepted and we are not considering whether we should make a further statement in this matter.”
“The facts surrounding the matter are not known and we will be taking further steps in due course to determine the facts.”
A spokesperson for the Australian Taxation Office said the agency had received a complaint about the MCOA, and the department would be conducting an investigation.
“At this stage, we cannot confirm whether any further action is required.””
At this stage, we cannot confirm whether any further action is required.”