A judge has blasted Mayfair 101 founder James Mawhinney for running an investment fund for his own gain, arguing that a “stop must be put” on the entrepreneur's activities as he ordered the fund's companies be wound up.
Mr Mawhinney put investor funds at risk to make a potential “windfall gain for himself”, Victorian Supreme Court Justice Ross Robson ruled on Thursday.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
