Business
‘Cavalier’ Mayfair founder given wind-up orders – The Australian Financial Review
A judge ruled Mayfair 101’s James Mawhinney put investor funds at risk to make a potential ‘windfall gain for himself’.
Finance experts had raised concerns about the risks associated with the IPO Wealth fund and two other key investment products launched under the Mayfair Platinum brand.
Tremors emerged by May this year, with Mayfair suspending contracted purchases of properties in North Queenslands Mission Beach.
Investor funds in IPO Wealth and the Mayfair Platinum products were frozen too. People backing the fund included retirees who put their superannuation savings into the products.
Justice Robson was ov…
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