Gold Coast investment firm directors face court

Five executives associated with the collapse of a property investment group have faced a Brisbane court charged with a string of criminal offences.

Directors associated with the collapse of the Members Alliance and Benchmark group of companies have faced a Brisbane court charged with a string of criminal offences.

Richard Marlborough, Colin MacVicar, David Domingo, Liam Young and John Ramsden appeared in Brisbane Magistrate’s Court Friday charged with a total of 72 offences related to the collapse of the property investment vehicles in 2016 and 2017. They did not enter a plea.

The charges follow an ASIC-led Serious Financial Crime Taskforce (SFCT) investigation into the collapse of the groups and alleged associated phoenix activity.

The groups allegedly operated property investment vehicles on the Gold Coast, offering financial advice to retail investors. In July 2016, 18 companies in the group were placed into liquidation with a $26m debt owing to the Australian Taxation Office. The matter has been listed for a mention hearing on November 26.

Former director of Members Alliance Colin MacVicar. Picture: Tim Marsden

Members Alliance allegedly sold fraudulent house and land packages through cold-calling and its group of about 30 companies collapsed in 2016 owing more than $40 million.

Mr Ramsden acted as a solicitor for the Members Alliance group and has been charged with aiding Mr Marlborough, Mr MacVicar and Mr Young in their alleged directors duties offences. He faces eight counts of aiding, abetting, counselling or procuring the commission of an offence in contravention of the Corporation Act.

Mr Marlborough, McMacVicar and Mr Domingo were at various times directors of companies in the Members Alliance group. Mr Young was a director of five Benchmark companies set up following the collapse of the Members Alliance group in 2016.

Mr Marlborough has been charged with 21 counts of trading while insolvent, 10 counts of dishonestly using his position as a director, one count of fraud and one count of disposing of property after, or about to be, a bankrupt.

Mr MacVicar has been charged with 13 counts of trading while insolvent, one count of dishonestly using his position as director and one count of disposing of property after or about to become a bankrupt.

Mr Young has been charged with four counts of trading while insolvent and five counts of dishonestly using his position as a director while Mr Domingo has been charged with seven counts of trading while insolvent.

The SFCT investigates cybercrime affecting the tax and superannuation systems, offshore tax evasion, illegal phoenix activity and more recently crimes against the Commonwealth’s Coronavirus Economic Response Package. Since it was established in 2015, it has recovered more than $1bn following 1300 audits, reviews and the conviditon of 15 individuals.

Originally published as Gold Coast investment firm directors face court