Business
Mayfair fund ‘doomed from outset’ – The Australian Financial Review
Provisional liquidators are also examining legal actions against the founder of the investment outfit that once owned Dunk Island.
Investor money was lent to an IPO Wealth company, which in turn backed startups from an Indian business software venture to a restaurant payments app. Fund investors, which included retirees and a father looking to provide homes for his children, were to receive regular interest payments and could recall their money too.
The requirement that interest would be paid quarterly, and the entitlement of investors to redeem their investment at short notice, was at odds with the investment strategy, pr…
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