PM’s Dinner with Casino Tycoon’s Son Under Scrutiny Over ATO Allegations

Prime Minister Anthony Albanese attended a dinner at the Point Piper mansion Mandalay, hosted by Felix Lee, the 25-year-old son of billionaire Phillip Dong Fang Lee. The event has drawn scrutiny after an Australian Taxation Office (ATO) affidavit detailed allegations that Phillip Lee used deceptive loan arrangements to transfer large sums from China to Australia.

The Dinner and the Donation

The dinner included prominent figures such as Commonwealth Bank CEO Matt Comyn, former CBA boss David Murray, ex-ASIC chairman James Shipton, and former Victorian premier Dan Andrews.

Felix Lee pledged a $1 million donation to Albanese at the dinner.

Albanese declined to confirm the amount. A government source said it would be "drastically less" than $1 million and that the PM's office was unaware of the ATO allegations against Phillip Lee.

ATO Allegations: ‘Sham Arrangements’ and Hidden Wealth

The 2021 affidavit—189 pages in total—accuses Phillip Lee of using "sham arrangements" to conceal the source of foreign income. These involved purported loans from his elderly mother, friends, and associates.

Key transactions detailed in the affidavit include:

• A $7.86 million withdrawal from the bank account of Felix Lee, then aged 15, used to purchase a property that later sold for $12 million.
• Mandalay, the venue for the dinner, was purchased with funds from Phillip's mother via an account belonging to another son, Edward, then 10 years old.
• A pine plantation in Tea Gardens was bought using funds traced to Edward's account and later transferred to Felix's Lee Family Office.

Phillip Lee’s Background and Contradictions

Phillip Lee migrated to Australia in 2000, claiming he sold his Chinese business interests for $200 million in 1998. However, loan applications to NAB in 2006 and 2021 described him as running a large infrastructure company in China with 60,000 staff. Chinese authorities reported no companies with his father as shareholder or legal representative.

From 2010 to 2018, Phillip Lee received about $60 million from family friends with no loan agreements—none had been repaid as of 2021.

Gambling Ties

Phillip Lee's UnionPay account at Star City casino processed $110 million, of which $97 million went to him. The ATO believes these funds represent unexplained foreign income.

Questionable Loan Documentation

A $100 million loan from his mother was witnessed on February 30—a non-existent date—later amended.

Statements and Clarifications

• Felix Lee's spokesperson stated he would not comment on private engagements or his father's tax troubles.
• Former treasurer Joe Hockey, chair of the Lee Family Office, said the office is independent of Phillip Lee's wealth, with its own governance.
• The ATO makes no adverse comments about Felix Lee personally.

Note on Allegations

This masthead does not suggest the ATO allegations are true; they have not been tested in court. A settlement was reached between the ATO and Phillip Lee, including partial repayment of tax liability.