Socialite faces being kicked out of her mansion as it's sold to help pay off $135MILLION her fraudster husband scammed from taxpayers and blew on luxury homes, sports cars and yachts before trying to kill himself along with her

A Gold Coast socialite could be booted from her waterfront mansion to help pay off her husband's multimillion-dollar tax scam.

Donrecka Issakidis still lives in the $3.8 million Sovereign Islands home, despite her husband, Michael Issakidis, being found guilty of defrauding the ATO of about $135 million in 2018.

The Commonwealth of Australia has launched legal action to seize the four-bedroom, four-bathroom property in the hopes of selling it, The Gold Coast Bulletin reported.

Donrecka Issakidis still lives in the $3.8 million Sovereign Islands home, despite her husband, Michael Issakidis, (both pictured) being found guilty of defrauding the ATO of about $135 million in 2018

The Commonwealth of Australia has launched legal action to seize the four-bedroom, four-bathroom property in the hopes of selling it

Documents filed to the Queensland District Court show the Commonwealth is seeking court orders to force Mrs Issakidis to vacate the property within 30 days of the hearing.

Mrs Issakidis is putting up a fight. She has registered a caveat on the property to 'prevent improper dealings' without her consent. 

This is despite the home being forfeited to the Commonwealth under proceeds of crime legislation after Mr Issakidis was convicted for his part in the tax evasion and money laundering schemes.

The disgraced businessman is serving a 10 year jail sentence for his role which saw him spend up big on luxury cars, waterfront homes and yachts. 

The spending spree ended when investigators swooped in on the scheme after discovering tax havens, fake names, fictitious companies and complex business structures were used to avoid tax.

Ahead of his original sentencing in 2017 Mr Issakidis and his wife tried to commit suicide.

More than $40 million in luxury assets linked to Issakidis were seized in a 2012

Michael Issakidis conspired with his business partner Anthony Dickson,  defrauding the ATO of about $135 million

The pair were found unconscious in a luxury vehicle at their Paradise Point home. 

According to court documents, Mrs Issakidis suffered carbon monoxide poisoning and has been living off a Centrelink pension. 

She has been unable to pay 'insurance, strata levies or council rates' since her husband was jailed, an email from Mrs Issakidis’ former solicitor in July last year claimed. 

The glamour couple, who began dating when they were teenagers, were known for their swanky lifestyle. 

More than $40 million in luxury assets linked to Issakidis were seized in a 2012. 

Issakidis and his business partner Anthony James Dickson created a company called NeuMedix, which operated sham medical patents.

 The duo created a web of fake identities and bogus offshore companies

The men funneled $68 million through the scheme, which they splashed on luxury homes, cars and boats  

The scheme involved a company called Athena, which was controlled by Issakidis' business partner Dickson.

Through the company Athena, the men would sell the patents to NeuMedix for hundreds of millions of dollars, as claimed in fraudulent documents.

In actual fact, the men paid a low amount for the rights of emerging medical technologies, and lied in tax returns. 

The scheme showed up on tax returns between 2007 and 2010.

The men funneled $68 million through the racket, which they splashed on luxury homes, cars and boats.

Dickson was sentenced to at least nine years behind bars for his involvement in the fraud racket. 

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