The mastermind of an elaborate fraud that took $395 million from Korean investors who believed they were buying into NDIS housing has been sentenced to 12 years in prison.
Victorian Supreme Court judge John Champion handed down the sentence on Friday, finding Demetrios “James” Charisiou, 63, guilty of obtaining financial advantage through deception and using fake documents to do so.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Based in Melbourne, Michael is on Bluesky @michaelbleby.bsky.social. Email Michael at mbleby@afr.com
Campbell Kwan covers retail and consumer goods for The Australian Financial Review, based in the Sydney newsroom. Email Campbell at campbell.kwan@afr.com
