Ryan Watsford bragged about being rich but was really broke

Ryan Watsford boasts about dealing with millions of dollars and brags about helping Salim Mehajer. This is the first of eight transcripts into how an undercover operative inflitrated Michael Ibrahim’s inner circle. READ THE TRANSCRIPTS

• How undercover agent brought down an Ibrahim
• Why John didn’t want to be around dodgy deals

Ryan Watsford boasts to the “professional smuggler” about his high finance lifestyle — dealing with up to $200 million at a time.

He also claims to have “helped” now disgraced and jailed former Auburn deputy mayor and developer Salim Mejaher “with this money”.

In reality, Watsford was speaking with an undercover operastive known as Joe Smith — and far from living the rich life, Watsford was broke and living with his mother.

This is the first of eight transcripts that give an explosive insight into how the undercover operative managed to inflitrate Michael Ibrahim’s inner circle.

July 21, 2016 12.35pm

Sheraton on the Park, Sydney CBD

Attendees:

J — Undercover operative Joe

R — Ryan Watsford

R Second tier lending is my main thing at the moment

J Ok

R F**king killing it

J That’s good

R It’s f**king amazing

J Good

R I’m talking. Listen, if you said ‘look my mate wants $2 million’, I’d refer you to a home loan guy. It’s just not worth the headache mate. I’m talking 10, 20, 30, 40, 50, 60 million development stuff. So some bloke needs help with a project. Contraction finance. Stuff like that. Very important. As long as the valuation’s right. Ultimately, I helped Salim Mehajer with his money.

J Oh really?

R Yeah, he’s a top bloke. I’m all of that. If you do a $10 million loan at 1 per cent then it’s 100 grand.

J Yeah, easy.

Ryan Watsford.

Salim Mehajer.

THE IBRAHIM TAPES: READ THE TRANSCRIPTS

‘YOU’VE EMBARRASSED ME IN FRONT OF THESE GUYS’

‘WHY AREN’T YOUSE DOING F**KING RACK AND SH*T?’

‘WE’RE LOOKING AT 20 YEARS JAIL, YOU KNOW WHAT I MEAN’

R I’m ... just can’t stop.

J People go ‘Oh its 100 grand, it’s not much’. But when you’ve got it over and over again …

R Put it like this, if you’ve got five to 10 irons in the fire. Even if you get two. Let’s be realistic, you’re only going to get two, ok. This thing is this, out of the two you’ll make 200 or 50 or 60 or 300 grand. That’s how it is. You’ve just got to keep punching. Keep rolling.

J We could do some good business together, man.

R Yeah, I’ve got big money at the moment, mate. Big money. I’ll cut you in. I’m telling you. If you’ve got mates that need $80 million. If you said to me listen I need $300 million, I need 200, I’ve got a mate that needs $200 million ... it’ll get us 10 apartments out of it, stuff like that. These are the deals that I’m doing. So we go to desperate developers because the banks aren’t lending and I’ve got a pool of money.

J So they’re coming to you.

R Yes. Yes.

J You’re sitting on a f**king gold mine.

R It’s great. I’ve got a partner that does it with me. It’s f**king fantastic and it’s a two to three week turnaround. That’s the beauty of it.

J We’re gonna talk. We’re gonna talk more. ‘Cause that’s good. I like that.

R We can do it overseas too you know. I’ve got big money at the moment that I need to farm out. You know.

Watsford bragged about handling large amounts of cash.

THE IBRAHIM TAPES: READ THE TRANSCRIPTS

PARTYING IN THAILAND WITH THE IBRAHIM FAMILY

HOW DEAL OVER SMUGGLED CIGARETTES TURNED UGLY

‘FOOLPROOF’ METHOD OF IMPORTING DRUGS INTO COUNTRY

‘I’VE GOT 50 KEGS OF COCAINE IN LEBANON READY’

J We’ll talk.

R We do 20 million a month and that’s big money. But cleaning, let me see what I can do.

J Look, I’ll talk to my people. So you want to do cheques?

R I don’t know, I’ll find out.

J You talk to your people, I’ll talk to my people and we’ll sort it out.

R With the construction side of things, it’s a full checklist. Pre-sales. Mortgage. How much they have. How much they want to borrow against. What their asset and liability sheet says. It’s just simple and no one can rip anyone off. It’s safe and it’s legal.

R I can’t say we’re going to get one per cent and then only get .3 because you’ll see the term sheet. So, it’s a comfortable business where no one gets shafted. That’s another reason why I like it because no one can say you f**ked me.

R What we do, I’d like to keep it confidential. That’s the way I’d like to do it.

J Yeah.

R And let’s see how we go. Let’s see what we can do.

J Well, if you’re looking at moving money do want it in electronic or do want cash?

R Can you do EFT?

J I can do EFT or I can do cash. If you’re talking big it’s going to be 18 per cent. If you’re talking half.

Originally published as Ryan Watsford bragged about being rich but was really broke