Millionaire murderer Ron Medich says goodbye to lavish lifestyle
MULTI-MILLIONAIRE Ron Medich, who once regularly spent hundreds of dollars a day shouting his mates to lavish lunches at his favourite restaurants, yesterday became the country’s wealthiest convicted killer.
NSW
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Multi-millionaire Ron Medich, who once regularly spent hundreds of dollars a day shouting his mates to lavish lunches at his favourite restaurants, yesterday became the country’s wealthiest convicted killer.
His $88 million property portfolio included a $37 million Point Piper mansion where he was a neighbour of Prime Minister Malcolm Turnbull and a $6 million luxury home on the French riviera which has been taken over by his estranged wife Odetta.
When he was convicted yesterday, property records show he still owned a prime 344-hectares of land at Badgerys Creek worth over $40 million with his brother Roy and another spread at Bringelly which the brothers are holding onto until the western Sydney airport is built.
The property developer divulged details of his lavish lifestyle in the Supreme Court last year as he sought to cry poor and block a retrial until he was awarded Legal Aid. His application was refused.
Last year he was spending $1356 rent a week for a swish apartment in Sydney’s Lumiere building despite buying a $5 million Milsons Point apartment with sweeping harbour views.
The year before he claimed to have an annual income of $325,826 from investments but paid $1500 in maintenance and had “other debts” of $260,000.
He spent up big on his black American Express card until it was suspended in April 2016 with a balance of over $160,000.
His wealth far outstripped that of convicted wife-killer Andrew Kalajzich who owned Manly’s Pacific International hotel before he arranged for his wife Megan to be shot dead in their bed in 1986.
After 25 years in jail for murder, Kalajzich was released to run a motel and has since sunk into retirement on Sydney’s northern beaches.
Medich has downsized since he was charged with having his business partner Michael McGurk shot dead in 2009, selling properties from the Point Piper mansion to Croydon, Campbelltown, Denham Court and Greenacre.
But he continued to spend up to $670 a day at Fortune Village Chinese or the Atehnian Greek Restaurant in Barrack Street.
He told the Supreme Court last year that the glamorous Odetta Medich, now living in Beaulieu-sur-Mer, had refused to give him a “red cent” from their tangled finances despite his legal bill then standing at $1.8 million.
That was before his latest trial rang the cash register up even more.