Business
Desperate investors chase Mayfair money – The Australian Financial Review
The fall-out from the troubles at the Mayfair 101 Group are being felt from regional Victoria to far north Queensland.
It has also emerged that some of Mayfair 101 founder Mr Mawhinney’s earliest investors are having difficulty ascertaining the status of their funds.
Stephen Read’s daughter Summer Read deposited $120,000 from a Black Saturday bushfire class action into a company called IPO Capital in July 2017.
Mr Mawhinney has been a director of IPO Capital since it was formed in 2015, and it is fully owned by his private company Online Investments, which trades as Mayfair 101.
‘It seemed legit’
The funds w…
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