Former Blue Chip boss Mark Bryers has been released from custody in Australia while facing allegations over a multimillion-dollar tax conspiracy.
The disgraced Kiwi businessman appeared again yesterday in Sydney's Central Local Court on two charges over allegedly helping an underworld crime boss structure a A$17.5m tax scam.
New South Wales court staff confirmed to the Herald that the 62-year-old was granted bail. He had previously been held behind bars after earlier appearances with no bail bids.
According to court documents provided to the Herald, Bryers has several conditions he must meet or risk being locked up again.
They include living at an approved property in the Sydney suburb of Glebe and a ban on entering any international points of departure leaving Australia.
He is also barred from applying for a new passport and allowed to have only one cellphone, which he must permit police to check the content of and provide them with any passwords.
He must also report to the Glebe police station every day, not associate or contact any of his co-accused, except through his lawyer, or benefit from any of the companies linked to the alleged scam.
Bryers was also instructed to "be of good behaviour".
If the businessman fails to comply with his bail conditions a $75,000 security agreement will be forfeited.
However, the man who once had an estimated personal wealth of $70m is yet to enter a plea to either of the charges he faces.
Bryers, whose Blue Chip group collapsed in 2008 owing investors $84m, was arrested in Queensland by the Australian Federal Police (AFP) in July along with several others, including former bankers.
He was then charged with intentionally dealing with proceeds of crime, money or property worth more than $1m and also of conspiring with the intention of dishonestly causing loss to the Australian Government.
The New Zealander faces up to 25 years behind bars if convicted of dealing with proceeds of crime.
He is due to appear in court again in December.
Last month, the Herald reported extensive details of Bryers' connection to "Operation Bordelon".
The joint AFP, Australian Taxation Office (ATO) and Australian Securities and Investments Commission investigation linked Bryers to a syndicate allegedly being directed by underworld-connected construction boss George Alex.
The group is accused of running a tax-dodging labour-hire structure, which was allegedly Bryers' idea after he was first "employed by the syndicate in early 2019", according to court documents obtained by the Herald.
Police allege the scheme involved labour-hire firms outsourcing payroll services to other companies that had no intention of paying tax to the ATO. The money was instead allegedly laundered, while the payroll companies were dumped and a new one formed when the debt grew too much.
Bryers is accused of personally pocketing A$1.92m from the fraud, while the AFP claims Alex and his associates used the funds to purchase luxury items and finance a Gold Coast apartment.
The apartment was allegedly used as a meeting house for the syndicate and was bugged by authorities. The AFP claims Bryers has been recorded at the apartment telling Alex he had a "cunning plan".
After the Blue Chip group failed, Bryers, who was found to be a big-spender at an Auckland brothel, was personally bankrupted in 2009 with debts of $230m.
He would later plead guilty to 34 financial reporting charges in 2010 and be fined $37,500 and ordered to complete 75 hours of community work by the Auckland District Court.
Bryers is also banned by the High Court from acting as a manager or director in New Zealand until 2022.