Missing hard drives show extent of Spiro Boursine’s failed music empire

THE full extent of the financial carnage left behind by Earthcore boss Spiro Boursine is emerging days on from his death at an Elsternwick bar, where he was tackled to the ground after brandishing a broken bottle as a weapon.

Spiro Boursine died allegedly owing tens of thousands of dollars to music industry figures.

COMPUTER hard drives supposedly containing crucial evidence about the collapsed dance party empire of erratic Earthcore boss Spiro Boursine were either wiped or ripped out of computers instead of handed to liquidators.

Mr Boursine (also known as Mr Boursinos) died nine days ago allegedly owing tens of thousands of dollars to music industry figures.

The Herald Sun understands Boursine had smashed a bottle and was brandishing it as a weapon when he was pinned down to the ground by members of the public at Antique Bar in Elsternwick.

BOURSINE’S ERRATIC BEHAVIOUR BEFORE DEATH

MUM’S QUESTIONS AFTER BAR DEATH

Boursine suffered a massive cardiac arrest when police officers cuffed him. A toxicology report has not yet been released.

A liquidators report into his collapsed dance company Yellow Sunshine — which was used to run the Earthcore festival — throws a light on how the walls were closing in on the businessman, who for years had been able to resurrect himself despite financial problems.

Mr Boursine died after being tackled to the floor of a bar. Picture: Facebook

Mr Boursine’s Yellow Sunshine company fell into liquidation. Picture: Facebook

His Yellow Sunshine company fell into liquidation in December last year amid the failure of the 2017 Earthcore festival, which high profile acts — such as Tel Aviv trance act Coming Soon — abandoned claiming they had not been paid.

The liquidator from respected company Ferrier Hodgson was seeking the financial records of Mr Boursine’s collapsed company and was provided with two computers by the struggling dance festival king.

One had its hard drive ripped out the other had been wiped and an IT expert said no data was retrievable.

“(Mr Boursine) provided me with two computers owned by the company. I note one of the computers was missing a hard drive, whilst the other computer’s hard drive appears to have been wiped,” the liquidator says in a report from April.

“A forensic IT specialist has confirmed that no electronic data could be recovered from the second hard drive.

“Based on my reviews of the books and records received, the failure of the company to comply with its statutory lodgements and the absence of electronic records, I am of the view that the company’s books and records were not maintained in accordance with (the act).”

The liquidator also claims Mr Boursine’s business may have been trading while insolvent from around July 2017, or, “if not earlier”

Partygoers at Earthcore, which began to generate big debt after 2013 according to a liquidator.

“My investigations regarding a potential claim for insolvent trading are continuing,” the liquidator said.

The liquidator also charted the crash of the empire.

The report said the Earthcore event organised by Mr Boursine in November 2013 was of a lesser scale than later events, with humbler costs.

“(It) appears to have been a smaller festival with a relatively conservative amount spent on artists.”

It made a slender $29,000 profit in 2014.

But this soon spun out of control with a 34.6 per cent increase in operating expenses between 2014 and 2015.

“The company substantially increased its spending as it appears to have attempted expansion.

“Whilst this was partly offset by increased ticket revenue, ultimately it resulted in the company operating at significant losses from financial year 2015 onwards.”

The auditor revealed the company made a loss of $190,000 in 2016, in 2015 it made a loss of $233,000. The liquidator estimates Yellow Sunshine had over 80 creditors owed $700,000.

One prominent Victorian promoter who chose not to be named said of Boursine: “Extraordinary character who owes millions I’d estimate. I couldn’t believe he made it this far, him personally and Earthcore. Got me for $100 once but cost us heaps of work having to pay deposits and fill out credit forms to hire equipment because of him never paying them.

Police outside Antique Bar in Elsternwick where Mr Boursine died. Picture: Ian Currie

“In recent years I heard about him personally selling tickets to small events in a pub he ran or worked at and when the ticket holders would arrive he’d say no that’s a fake ticket, a punter I knew said to him ‘No mate I bought it off you here yesterday.’ Only then he’d reply: ‘Ah OK come in then’. He did it all.”

Major creditors included National Australia Bank and the tax office.

The Herald Sun has seen Facebook messages from Mr Boursine which outline an alleged plan to trick authorities by changing the name of the permit holder from Yellow Sunshine to Earthcore. “Don’t tell anyone” he writes, adding “LOL. Loophole.”

Facebook messages from Mr Boursine. Picture: Supplied

Mr Boursine’s brother, Steven, told the Herald Sun Spiro struggled to keep Earthcore in the black, but his heart was in the right place.

“He tried to fulfil his obligations. He was always trying to make amends with what he didn’t do exactly right.”

Steven said the family often bailed Spiro out of financial troubles, but he always believed in the spectacle and delivering good times for others.

Mr Boursine had been butting heads with other music industry figures over debts he allegedly owed.

There are claims he had been making ­expletive-laden phone calls to those parties and was accused of hounding former associates via phone calls, text messages, emails and Facebook.

The liquidator attributed the collapse of the company to “poor financial control including lack of records”, “poor strategic management of the business”, “inadequate cash flow or high cash use”, and trading losses.

The report to creditors into the Yellow Sunshine company, which was used to run dance party events, was delivered in April this year.

“At this point in time, there are insufficient funds to make payments of a dividend to any class of creditor,” the report said.

“Any return to creditors is dependent on the outcome of my investigations, which are ongoing.”

Set to go ahead in less than a month, the Earthcore 2018: 25th Anniversary Facebook event administrators have posted: “The show must go on.” No venue has been announced yet.

[e-mail]

@joeylightbulb