Property mogul Mark Casey settles bitter $660m legal dispute for $20k

Melbourne Cup winning owner and property tycoon Mark Casey has told of the “emotional toll” of a lengthy legal bid to try to claw back debt on behalf of his late son.

Mark and James Casey. Picture: Supplied

A highly charged and painful $660m Supreme Court action has finally been put to rest between richlister Mark Casey’s late son’s estate and a high flying Crypto exec.

Melbourne Cup winning owner and property tycoon Mark Casey told Page 13 of the “emotional toll” it had taken after becoming embroiled in a lengthy legal battle with Stephen Giderson, a tech business owner who admitted to forging his guarantor parents signatures, in an effort to reap back the debt on behalf of the estate of his late son, James Casey.

This week, the legal dispute was officially resolved for $20,000, bringing an end to the long-standing financial matter.

Melbourne Cup winning owner and property tycoon Mark Casey. Picture: Tony Gough

“When you lose a child, the emotional toll is compounded by the practical realities—sorting through their life, their financial records, and responsibilities you were never meant to carry or have an overview of,” Casey told Page 13 on Friday.

“Like many parents in this position, I relied on James’s friends and the paperwork traces left behind to navigate a complex and painful process.

“I’ve approached every step with the sole intention of resolving his affairs honourably. Especially in this digital age where all records are secured with passwords and security features it makes the process all the more difficult.”

James Casey, 26, died in 2022 in New York after forgetting his insulin while on a night out.

Crypto business owner Stephen Giderson. Picture: Supplied

During court filings in 2023, Giderson, a crypto business owner and former flame of Real Housewives of Melbourne star Susie McLean, admitted to forging his parents’ signatures, embroiling them in a $660m debt saga that could have lost them their Sorrento home.

Giderson confirmed that he signed his elderly parents’ names as guarantors on $70k in loans that he’d made with friend James Casey in 2017 and 2018, court documents show.

Casey Snr, a part owner of 2022 Melbourne Cup winner Gold Trip and Essendon Football Club powerbroker, launched Supreme Court action in an effort to recoup his late son’s estate.

Court papers show that the debt from the two separate loans of $30k and $40k was now estimated to be worth $659,757,405 due to sky-high compound interest of up to 15 per cent a month.

The loan agreement came with the condition that Stephen and his parents all provide guarantees, according to the Statement of Claim – which the parents denied having any involvement with.

A statement sent from Casey Capital said the matter was now closed.

“The Casey estate, following the passing of James Casey in 2022, has agreed to a resolution with the Giderson family, settling the repayment of a financial loan for $20,000—the principal amount lent, without any interest being charged.

“This agreement ensures the closure of all outstanding claims between the parties, finalising the matter amicably and conclusively.”