Investors say they’ve no idea where gym founder Scott Capelin is

Furious investors says they have no idea of the current whereabouts of a boutique gym founder after a protest was today called off amid claims he left them with debts of up to half a million dollars.

Sydney gym owner Scott Capelin. Picture: Instagram/@scottcapelin

• Detectives, ASIC investigate Embody fitness and wellness studio

Furious investors says they have no idea of the current whereabouts of a boutique gym founder after a protest was today called off amid claims he left them with debts of up to half a million dollars.

A protest had been planned to coincide with the gym’s reopening on Monday morning but was cancelled at the last minute after a former trainer told investors that the studio would remain closed, citing “too much heat” surrounding the fraud allegations and media attention.

Scott Capelin at home in Gymea Bay.

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A police investigation is currently underway into the activities of Scott Capelin, 42, following claims that he defrauded investors in his Embody fitness and wellness studio in Neutral Bay.

Investors have accused Mr Capelin of pocketing their money before closing down the original business, attempting to re-open at the same premises three weeks later under the same name.

Investors said that this has left many of them buried in hundreds of thousands of dollars of debt.

Investors and former members gathered outside the Embody studio on Military road as early as 6.30am on Monday morning.

Tim Cox said he lost $500,000 after investing in Mr Capelin’s business.

A protest planned to coincide with the gym’s reopening today was cancelled. Picture: Julian Andrews.

“This morning we came along to see if the gym was open, to see that it’s not,” he said.

“I lost half a million dollars … I’m appalled.

“We have a social duty to try and expose what (has happened) so that no one else becomes a victim.”

Mr Cox said that he has “no idea” about Mr Capelin’s current whereabouts.

Former member Penny Ewing said that the business had damaged the community of Neutral Bay.

“You came to classes because there was a sense of community,” she said.

A police investigation is currently underway into the activities of Scott Capelin. Picture: Instagram @scottcapelin

Embody’s creditors will gather in Parramatta tomorrow afternoon.

Several gym-goers arrived at the gym as early as 6am for classes on Monday morning. Mr Capelin had not told them that the gym’s reopening had been delayed.

Meanwhile, the Embody Amsterdam website is currently active, even featuring a timetable of Monday’s classes and naming the Sydney studio’s instructors.

The business has been referred to the Australian Taxation Office’s phoenixing task force.

Phoenixing involves a business owner who deliberately liquidate their businesses and disappear with investors’ money.

The owner then pops up later under a new ABN, often carrying out the same activities as before.