Mayfair 101 investors tapped for money – while their funds lie frozen
Entrepreneur James Mawhinney, banned last month from raising funds via financial products for 20 years, has been asking investors for money to “support” his broken Mayfair 101 investment group.
Those investors have almost $210 million frozen but in an email sent to noteholders this week, Mr Mawhinney indicates any new money will be spent on legal fees.
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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
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