Flamboyant Melbourne property developer Mark Stanley the brains behind Australias first gay public company, the Satellite Group, faces a lengthy jail term after pleading guilty to two charges of stealing $2.79 million from investors. The private investors were told their money would purchase land for a retirement village at Berwick, outside Melbourne. They were promised theyd get all their money back on completion, plus interest payments of 13% a year once the village was built. But the land was never purchased.
Five Prime Trust directors found to a breach their duties when handing over $33 million to Bill Lewski
Corporate watchdog ASIC was successful in the Federal Court, obtaining a ruling that the five former directors of Prime Trust are liable for breaching their duties as officers of the trust APCHL. They agreed to the amendment of the Constitution of...