Staggering details revealed by court papers as Scott Pendlebury sues ex-manager in $2 million claim
Updated . First published at
Collingwood star Scott Pendlebury has launched a lawsuit seeking more than $2 million from his former financial manager and longtime friend, Jason Sourasis.
Pendlebury claims the former boss of the failed A-League club Western United misappropriated $2.15 million while managing the two-time premiership player's finances.
The lawsuit was launched in the Supreme Court of Victoria following Pendlebury's review of his accounts.
READ MORE: Ange replacement found amid 'blessing in disguise'
READ MORE: Aussie NBA star agrees to monster $154m extension
READ MORE: Grant's cheeky swipe at Bellamy amid contract rumours
Scott Pendlebury of the Magpies. Michael Willson/AFL Photos via Getty Images
Court documents filed by Pendlebury's lawyer, Leon Zwier of Arnold Bloch Leibler, claim that Sourasis, who served as Pendlebury's financial advisor since 2013, transferred a total of $2,148,900 from the star's investment account to accounts associated with himself between January 2015 and December 2023.
Pendlebury claims to have become aware of the transfers around February of this year.
Pendlebury was a client of Sourasis' financial planning group, Strategic Financial Planning. He alleges the money was "improperly withdrawn" without his knowledge or authorisation, funnelled into accounts linked to Sourasis' projects.
Additionally, the lawsuit alleges Sourasis owes Pendlebury $300,000 for an unpaid personal loan in 2023.
Pendlebury initially demanded the money be repaid a day later but after that failed, a new agreement was reached and the loan was restructured to be repaid over six to 12 months, but with a 50 per cent per annum interest rate.
Reports indicate Sourasis vehemently denies the allegations and will defend the claims in court.
Scott Pendlebury is chaired off by Magpies teammates Jeremy Howe and Steele Sidebottom after his 400th senior game. Getty
Pendlebury is seeking the return of the money allegedly taken from his investment account, the repayment of the outstanding loan, and payment of interest and damages.
Court documents detail more than 50 transactions — with amounts as high as $305,000 — allegedly withdrawn from the six-time All-Australian's investment account dating back to 2015.
Much of the money allegedly taken from Pendlebury's Macquarie account was transferred with descriptions suggesting it went towards the Western United A-League club or associated property developments Sourasis was undertaking.
The transactions include transfers to Sayers Road Investment Co, a firm ultimately owned by Sourasis. This company shares its name with the Tarneit site where Western United's parent company, Western Melbourne Group (WMG), was developing a new stadium.
Other transfers were marked as investments by Pendlebury in WMG or were sent to Jaszac Investments, which Sourasis also owns.
In August, the Federal Court ordered the liquidation of WMG Football Club, the company that held the Western United licence. However, the club has appealed that ruling, and a hearing is scheduled for December.
