The $12 million sale of international fugitive Michael Gu’s Mosman trophy home will go ahead, leaving creditors to argue over the proceeds.
Mr Gu, the founder of collapsed property group iProsperity, fled Australia in July 2020 amid allegations he ran a $60 million ponzi scheme, owes investors a further $120 million, and used investor funds to purchase a Lamborghini amid the $350 million collapse of iProsperity.
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Max Mason covers insolvency, courts, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
