The scheme was discovered during a probe of the Painters and Dockers Union. The probe revealed that executives and members of the union were being used as bogus directors of companies that were involved in tax evasion in that they had already been stripped of their assets. The schemes exploited the existing law and resulted in major losses in tax revenues, including an estimated $200 million loss from the activities of Brian Maher alone. Maher was ultimately convicted of conspiring to defraud both the Commonwealth of Australia and a named company. More effective enforcement of existing laws might have restricted the damage done by Maher and others, but the revised legislation offers additional protection. Nevertheless, the widely accepted principle that enforcement of business laws should be guided by the letter of the law and not by its legislative intent continues to limit the effectiveness of enforcement. 13 reference notes.