The multibillion-dollar Salter Brothers asset management empire was seeded with money from Chinese investors steered into a fund run by Michael Gu, the Lamborghini-driving alleged fraudster who fled the country after his property business collapsed owing more than $60 million.
Documents and investor testimony obtained by The Australian Financial Review show that the foundations of Salter Brothers’ $4 billion portfolio can be traced back to the Atlas Capital SIV Fund – a 2015 vehicle co-founded by Gu and Paul Salter to attract wealthy Chinese nationals under a scheme that offered visas in return for major investments in Australia.
Loading...
Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
