Investigation ongoing as failed Espresso Moto director Shane Rose filmed taking gear from cafe
The director of a collapsed chain of Gold Coast cafes was filmed removing a coffee machine and other equipment from one of his failed businesses in the early hours of the morning. SEE THE VIDEO
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The director of a collapsed chain of Gold Coast cafes was filmed removing a coffee machine and other equipment from one of his failed businesses in the early hours of the morning.
Shane Rose’s wife has since been operating a cafe down the road from his failed Mermaid Beach business.
Mr Rose was director of the companies behind the Espresso Moto cafes at Mermaid and Palm Beach, plunged into liquidation by a court in May.
In his latest report to creditors, liquidator Todd Kelly said his investigations showed “the director may have removed all plant, equipment, and stock from the company’s premises prior to our appointment”.
“We have recently written to the director asking him to explain to us what happened to the Company’s assets and their current location,” Mr Kelly’s report said.
“We have also received notification from a creditor that either the director, or a related party of the director, has opened a new business trading the same or substantially the same business as the company shortly after the liquidation of the company.
“This creditor has also put to us that (at least some) of the assets of the company are possibly being used by this related party’s business.
“Our investigations into this allegation are ongoing.”
The report said the matter would be reported to ASIC.
In the video, understood to have been filmed by a landlord of one of the Espresso Moto cafes, Mr Rose can be seen loading equipment from the cafe into a rented truck in the early hours of the morning.
When challenged by the man behind the camera, Mr Rose argues his company is not in liquidation and that he has every right to remove the items.
“I’m the director and my solicitor has approved this. See ya later,” he said.
“You don’t know the law.”
He tells the person filming to “f*** off”.
“This is my property,” the man replies.
Mr Rose said he took equipment from the Espresso Moto cafes before the liquidation and sold it on social media.
“I’m currently preparing a response to the liquidator regarding the equipment,” he said.
“I did everything possible to ensure workers entitlements were paid.
“I posted all the items for sale on marketplace and had over 11,000 responses and sold all equipment then deposited the funds into the bank accounts on the Saturday and Sunday then paid the employees out of these funded prior to the company’s being placed into liquidation.”
He said the coffee machine he could be seen loading onto the truck belonged to a coffee supplier and had been returned to them.
Mr Rose, 57, and Ms Bridge, 37, have operated construction, mechanical, financial advice and adventure tour companies along the coast.
He and his companies owe more than $3.5m to a range of creditors, including a big bank and the Australian Tax Office (ATO).
His financial services company, Your Private Wealth, was wound up over an $809,000 tax and superannuation debt days after the cafe chain was wound up.
A further $3m or more was tied up in an investment trust, where now-banned financial adviser Mr Rose had recommended his clients park their superannuation.
Corporate regulator ASIC permanently banned Mr Rose from the financial services industry in March after alleging he “knowingly and dishonestly” spent investor money for purposes different from what was intended.
ASIC records show Ms Bridge holds a current financial adviser registration.
Company records show Ms Bridge is also sole director of a new company called Moto Diner, registered shortly before the Espresso Moto liquidation, with a website showing the address and phone numbers of the Palm Beach and Mermaid Beach Espresso Moto cafes.
Espresso Moto’s Instagram page was also renamed Moto Diner, posting that fans should “hold on tight, it’s coming”.
The same page has since been renamed Jay’s Drive Thru Cafe.
The business name for Jays Drive Thru Cafe is held by The Spanc Enterprises Trust.
Spanc Enterprises is a company owned by Mr Rose and his wife Alicia Bridge, aka Alicia Rose, which is currently subject to strike-off action by ASIC.
Mr Rose said his wife owned Jays Cafe and he had nothing to do with its operations.
He said Jays cafe had signed a new deal with the same coffee company as Espresso Moto and that the machine in the newer business was not the one he removed from the failed business.
Mr Rose has maintained the Espresso Moto business should have been sold instead of wound up, blaming a dispute with shareholders over money.
“I haven’t done anythikng wrong, I haven’t taken anybody’s money,” he said.
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