Business
‘The next Skase’: investor fury over iProsperity fugitive – The Australian Financial Review
The finger-pointing and recriminations have begun over Michael Gu, the founder of failed property group iProsperity, being allowed to leave the country.
Fingers are now being pointed at the first administrator appointed, Barry Wight from Cor Cordis, and whether he should have warned authorities Mr Gu was a flight risk. Mr Wight took control of 12 companies in the iProsperity group 11 days before Mr Gu fled the country.
Mr Wight said the Australian Securities and Investments Commission had been told of his “serious concerns” around the conduct of Mr Gu as soon as he was appointed to the role. He said the police were immediately called after Cor …
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