Business
Mayfair 101’s James Mawhinney cops 20-year ban – The Australian Financial Review
With almost $210m frozen in investor funds, a court has found the founder of Mayfair engaged in “reprehensible” conduct.
His Mayfair outfit had raised more than $210 million from people including elderly retirees and parents hoping to build nest eggs for children, in a mix of investment seminars, newspaper advertising and Instagram endorsements from B-grade celebrities.
The hype was crowned in 2019 with the purchase of Dunk Island, which came crashing down last year when it was repossessed after failure to pay for the tropical North Queensland island. Investors are now sweating with all their money frozen.
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