Trail of debts revealed for banned financial adviser Shane Allan Rose as companies in liquidation
A collapsed cafe chain operator whose companies owe $3.5m to creditors claims they are stalking and hounding him via what he calls a Facebook “hate” page. Read his response
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A collapsed cafe chain operator whose companies owe $3.5m to creditors claims he’s been stalked and harassed as people hound him via what he calls a Facebook “hate” page.
Some former clients and employees have connected via social media to share information about Shane Rose, 57, and wife Alicia Bridge, 37 who have operated construction, mechanical, financial advice and adventure tour companies along the coast.
Company searches have revealed Mr Rose and his companies owe more than $3.5m to a range of creditors, including a big bank and the Australian Tax Office (ATO).
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.
Despite the evidence, 4WD enthusiast Mr Rose described his situation as “all lies on a Facebook hate page”, saying he’d been subjected to stalking and harassment “causing major safety and mental health concerns for our daughter and our family”.
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.
His financial services company, Your Private Wealth, was wound up over an $809,000 tax and superannuation debt days later, with the liquidator revealing it owed another $1.43m to NAB and $56,700 to other financial institutions.
Liquidator Glenn O’Kearney told creditors in an initial report there had been some inconsistencies in what Mr Rose had told him.
“The director disclosed the Company does not own any motor vehicles,” he wrote.
However, the report said, searches of the Queensland Motor Vehicle Register had found a Toyota HiLux currently registered in the company’s name, along with three previously registered vehicles and up to seven personalised plates.
Mr Rose took issue with being questioned about his collapsed companies.
“I’m still struggling to understand why this is newsworthy,” he said via text.
“The three Espresso Moto companies were forced into administration due to a shareholders dispute.
“Most companies that go into liquidation owe (superannuation guarantee) contributions.”
Company records have revealed Ms Bridge is 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”.
Ms Bridge did not reply to the Bulletin’s messages. Neither Ms Bridge nor Mr Rose is accused of any criminal wrongdoing.
Another company, Octillion Partners, directed by Ms Bridge, lost its financial services licence over the conduct of Mr Rose as its representative.
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.
While an authorised adviser for Octillion, Mr Rose recommended investors put their money in a trust named GrowU, which tax records show had $3.6m in assets in 2020.
Mr Rose said “no one has lost any money in GrowU”.
“GrowU is going through a normal fund closure process where the assets are being sold and monies from this will be repaid to the unit holders, just like any other unit trust being closed,” he said.
“People who do not understand and not qualified are making unfounded accusations.”
Mr Rose said he’d reported the alleged behaviour of some members of the Facebook group to police, but would not provide a police report number.
“You have been sucked into a hate campaign against my family which is putting our wellbeing at risk,” he said in response to questions about his businesses.
Prior to his ban, Mr Rose had been operating financial advisory businesses and a mechanic’s shop on neighbouring premises at Logan, hosting Jeep car displays from the carpark.
Mr Rose said his failed company, All American Wheeling – wound up in the Brisbane Supreme Court with debts of more than $400,000 in February – had been impacted by Covid.
Mr Rose left his hometown of Newcastle for Queensland in 2009 after closing the doors of his building business, Regal Developments, leaving $230,000 of debts in his wake.
The Australian Securities and Investments Commission decided not to investigate because Regal had “ceased trading and therefore there is no regulatory risk”.
Mr Rose and Ms Bridge were also directors of Coyote Tuning, which is not in liquidation but has previously traded from the same address at Nujooloo Rd, Slack’s Creek.
While dealing with his company failures, Mr Rose is also suing the Brisbane 4WD Club, claiming its committee members had “used their positions for their personal advantage to have my membership terminated”.
The Gold Coast Bulletin has contacted the club for a response to the claims.
Companies in the spotlight:
All American Wheeling
Also traded as: Advanced Diesel Tuning, A4WDS, All 4WD Modifications, All 4WD Solutions, All 4WD Tyres, All Diesel Tuning, 4WD ACT, 4WD NSW.
Director: Shane Rose
Shares held by: Your Private Wealth and Sarose Group Holdings.
Status: Court-ordered liquidation in February 2024.
Debts: More than $400,000, mostly to unsecured creditors including the ATO.
Regal Developments
Failed building company in Newcastle.
Director: Shane Rose
Status: Court-ordered liquidation in November 2009.
Debts: More than $230,000 to six unsecured creditors.
Octillion
Also traded as: Unison Wealth Management and Eden Wealth Management
Director: Alicia Bridge
Status: Australian Financial Services Licence was cancelled over the conduct of its representative Shane Rose.
Your Private Wealth
Director: Shane Rose
Interests: Company holds shares in All American Wheeling and Octillion.
Status: Court-ordered liquidation in May 2024.
Debts: At least $850,000 in tax and superannuation. NAB launched court action against the company over a $1.43m debt in March. Unknown debts to other creditors.
Espresso Moto, Espresso Moto Burleigh
Also traded as: Espresso Moto Palm Beach
Director: Shane Rose
Status: Court-ordered liquidation in May 2024.
Debts: Unknown.
Cape York 4WD Adventures
Director: Alicia Bridge
Status: Registered May 3, 2024 at the Cairns commercial address leased by Espresso Moto Burleigh.
Espresso Moto Mermaid
Also traded as: Espresso Moto Cool, Oh Buoy GC. Oh Buoy is the name of a 15m Riviera motor yacht, on which the pair was believed to be staying.
The company held a lease for a commercial premises in Cairns.
Director: Shane Rose
Status: Court-ordered liquidation in May 2024.
Debts: TBA
Moto Employees
Director: Alicia Bridge
Sole shareholder: Shane Rose
Status: Registered since July 2019 at the address of the former Espresso Moto Palm Beach.
Debts: $586,500 ATO default as of February this year.
Moto Diner
Director: Alicia Bridge
Status: New company, registered on March 28, 2024 at the address of the former Espresso Moto Palm Beach.
Coyote Ugly Enterprises
Directors: Shane Rose and Alicia Bridge
Traded as: Coyote Tuning Brisbane
Status: Registered since November 2018.
GrowU
Director: Shane Rose
Status: Registered company and Trustee for GrowU Unit Trust, into which Mr Rose recommended his clients invest their superannuation into before he was banned by ASIC.
Debts: Finance company Metro chasing it to repossess a 2014 Toyota Tundra 4WD on which $26,700 is owed. Unknown other debts.
Building Private Wealth
Director: Alicia Bridge
Status: New company, registered in September 2023. Website registered under the name Alicia Rose but not yet live.
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