Former Young Rich Lister Robert Bates failed to issue any of the promised shares in his wellness start-up Aurum+ following three capital raises that appeared to total $15 million at a $US180 million valuation, according to furious investors who want their money back.

High net worth individuals from Byron Bay, Singapore, Sydney and Melbourne are demanding refunds that range from $50,000 to nearly $2 million, after company searches in Singapore and Australia revealed Aurum+ has only ever issued 100 shares at $1 each.