This was published 2 years ago
Disgraced property developer defrauds investors out of $250m
One developer, two sets of books.
That's the shifty game disgraced property developer William O'Dwyer was playing when he defrauded investors and lenders out of a whopping $250 million.
"He was basically Australia's Bernie Madoff," Matthew Bransgrove from Bransgroves Lawyers told A Current Affair.
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Disgraced property developer William O'Dwyer defrauds investors and lenders out of a whopping $250 million. A Current Affair
O'Dwyer was the sole director of the failed development company Ralan Group which folded four years ago, owing $323 million.
O'Dwyer pleaded guilty to six counts of fraud in August, but due to legal reasons the media couldn't report on the case until now.
Watch the full story in the video player above.
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