Michael Gu, the founder of collapsed property group iProsperity, has fled the country amid accusations he purchased a Lamborghini with investor funds and ran a $60 million Ponzi scheme.
The Australian Financial Review was told Mr Gu left Sydney for Los Angeles on July 26, more than two weeks after his empire collapsed and well after a long list of creditors had accused him of misappropriating money.
Loading...
Angus Grigg is an investigative reporter based in Sydney. He has worked as a foreign correpondent in China and Indonesia, and has won two Walkley Awards. Connect with Angus on Twitter. Email Angus at agrigg@afr.com
Ingrid Fuary-Wagner is the AFR's explainer editor, based in Sydney. She previously wrote about property and before that was news editor at Domain. Connect with Ingrid on Twitter. Email Ingrid at ingrid.fuary-wagner@afr.com
