Fool's Gold Coast

Michael & Donrecka Issakidies

For about 4 years they were a fixture around Sydney at all the right parties, shop openings and soirees. Noticeable for their 'his and hers" matching gold Rolls Royce's.

And then they seemed to vanish. It appears businessman Michael Issakidis and his glamorous blond wife Donrecka had decamped to the glittering Gold Coast in Queensland.

John Burgess

Yesterday Australian Federal Police and investigators from the tax office seized $40million in assetts from Issakides and a business partner during raids, including the Issakides Gold Coast mansion, another in Sydney, 4 Rolls Royce's and 4 other luxury cars along with two motor cruisers.

Issakidis had recently been in the media after he sued the TV game show host 'Baby' John Burgess and his wife Jan for $40,000 in rent owed on a 71st floor beach front Gold Coast apartment rented to Burgess. Now Mr Issakidis has been charged with conspiring to deal in proceeds of crime worth $63 million and defrauding the Australian Tax Office of tens of millions of dollars. If convicted the penalty can be up to 25 years in jail.