Cricket: Warne embroiled in tax investigation

Shane Warne. Photo / Getty Image

Shane Warne and possibly other cricketers have become embroiled in the Operation Wickenby tax investigation after failing to declare hundreds of thousands of British pounds managed in offshore accounts.

Tax Office investigators believe a large portion of their English playing and endorsement earnings were housed in offshore trusts managed by tax-haven specialist Philip Egglishaw, Fairfax newspapers report.

Fairfax understands the players were not advised the compensation should have been declared and taxed in Australia but criminal charges are considered likely.

The cricket legend is understood to have relied on advisers and to have told tax officers he was unaware his international arrangements might have breached Australian tax rules.

Mr Egglishaw is thought to control hundreds of millions of dollars in tax haven trusts on behalf of his Australian clients, Fairfax reports.

- AAP