Was Terry Serepisos Scammed?

Nigerian scams, chain letters, pyramid schemes and anything not auction related.
User avatar
Foggyone
Site Admin
Posts: 9880
Joined: Sat May 22, 2004 8:16 pm
First Name: Peter
Location: Lower Hutt
Contact:

Was Terry Serepisos Scammed?

Post by Foggyone » Fri Feb 18, 2011 1:59 am

Story here!
There are claims this morning that Wellington Phoenix football owner Terry Serepisos may have fallen victim to a Nigerian-style finance scam that has cost him more than three quarters of a million dollars.
Google, the answer to so many questions!
-----------------------------------------------------

Kitcat_nz
Members
Posts: 49
Joined: Wed Aug 27, 2008 2:06 am
Location: wellington

Re: Was Terry Serepisos Scammed?

Post by Kitcat_nz » Wed Feb 23, 2011 2:16 am

Ooooh please let this be true!

User avatar
digidog
Site Admin
Posts: 15014
Joined: Wed May 05, 2004 2:25 am
First Name: Alfie
Location: Otago
Contact:

Post by digidog » Mon Mar 07, 2011 12:04 am

It seems more and more likely that Terry Serepisos has fallen victim to a sophisticated 419
scam. He has been given three days by the High Court this morning to sort out over $4m of debt.
The NBR understands from a source inside the Serepisos camp that hopes are dimming a
promised loan from Western Gulf Advisory (WGA) will arrive in time - if at all - to satisfy
creditors.

Sydney developer Keith Johnson, who paid up front fees of over $4 million to WGA for a
loan that never eventuated, told the Sydney Morning Herald today he thought the Swiss-
based lender was a fraud.

http://www.nbr.co.nz/article/holdholdho ... mn-p-87577" onclick="window.open(this.href);return false;
Here's the SMH story.
http://www.smh.com.au/nsw/victim-rails- ... 1bjln.html" onclick="window.open(this.href);return false;

User avatar
digidog
Site Admin
Posts: 15014
Joined: Wed May 05, 2004 2:25 am
First Name: Alfie
Location: Otago
Contact:

Post by digidog » Mon Mar 07, 2011 6:22 pm

Serepisos offers his house as security against a $3.5 million tax bill against five of his companies.
And that's not all...
Mr Serepisos is also facing the possibility of bankruptcy action, with FM Custodians claiming an
unpaid debt of $6.1m.

http://www.stuff.co.nz/business/4741775 ... s-security" onclick="window.open(this.href);return false;

User avatar
digidog
Site Admin
Posts: 15014
Joined: Wed May 05, 2004 2:25 am
First Name: Alfie
Location: Otago
Contact:

Post by digidog » Mon Mar 07, 2011 7:40 pm

The Herald has more details on the man behind the 419 scam that appears to have
caught Terry Serepisos to the tune of $1.5m.

http://www.nzherald.co.nz/business/news ... d=10710692" onclick="window.open(this.href);return false;

And the Australian newspaper has a story about the Aussie PR company who sacked the
scammer when they realised that his company was "dubious".

http://www.theaustralian.com.au/news/na ... 6015206574" onclick="window.open(this.href);return false;

User avatar
digidog
Site Admin
Posts: 15014
Joined: Wed May 05, 2004 2:25 am
First Name: Alfie
Location: Otago
Contact:

Post by digidog » Mon Apr 18, 2011 12:48 am

Wellington property tycoon Terry Serepisos has one day to save five of his companies
from liquidation, he was told in the High Court at Wellington today.
But wait... I've just found a handy $4m under the bed!
Mr Serepisos will transfer $4m into his lawyer's trust fund today, but it is not clear
whether that will save his companies.

http://www.nzherald.co.nz/business/news ... d=10720129" onclick="window.open(this.href);return false;

User avatar
digidog
Site Admin
Posts: 15014
Joined: Wed May 05, 2004 2:25 am
First Name: Alfie
Location: Otago
Contact:

Post by digidog » Wed Apr 20, 2011 1:28 am

Having scored $4m from "an undisclosed source" to pay the IRD, Mr Serepisos is off overseas to
finalise income from the Nigerian scam he's invested in.
"I have not been caught in a scam," he said. "I talk to the guy two or three times a day ... I
ring him, they ring me.
Uh huh!

http://www.stuff.co.nz/business/money/4 ... y-good-day" onclick="window.open(this.href);return false;

User avatar
digidog
Site Admin
Posts: 15014
Joined: Wed May 05, 2004 2:25 am
First Name: Alfie
Location: Otago
Contact:

Post by digidog » Wed Apr 20, 2011 5:19 am

In (slightly) related news, prominent Auckland property developer Nigel McKenna has
finally been bankrupted.

http://www.nzherald.co.nz/business/news ... d=10720575" onclick="window.open(this.href);return false;

The great and mighty seem to be dropping like flies lately.

User avatar
Foggyone
Site Admin
Posts: 9880
Joined: Sat May 22, 2004 8:16 pm
First Name: Peter
Location: Lower Hutt
Contact:

Victims unite in bid to capture $100m scammer

Post by Foggyone » Mon Jun 20, 2011 11:14 pm

Story on Western Gulf Advisory which was the vehicle to pull T S out of the poo!
The scam is simple. Through his company, Western Gulf Advisory, which has offices in Bahrain and Switzerland, Mr Ali offers to lend troubled businesses up to $US200 million ($190 million) from his own personal fortune, which he claims to be $US8 billion.

This is itself incredible since only six years earlier Mr Ali departed London in a hurry leaving behind a grubby flat and owing thousands of pounds in unpaid rent and council taxes.

''There can be no doubt that WGA is a fraud,'' Andy Bryce, a solicitor from Melbourne law firm Evans Ellis, said.

Mr Bryce is acting for up to a dozen WGA victims who have been defrauded of $30 million by WGA. ''We are looking at our legal remedies both here and internationally,'' the solicitor, whose victims come from every state and were involved in a wide range of industries, said.
OOPS!
Google, the answer to so many questions!
-----------------------------------------------------

User avatar
digidog
Site Admin
Posts: 15014
Joined: Wed May 05, 2004 2:25 am
First Name: Alfie
Location: Otago
Contact:

Post by digidog » Mon Aug 29, 2011 8:50 pm

Well. It seems that the money from the 419 scam... (sorry, "overseas investor") never eventuated. But the
mainstream media appear to be ignoring the fact that a prominent person has been scammed for a couple
of mill in a classic 419 scam. In fact it doesn't seem to have damaged the man's credibility one iota and he's
being treated with kid gloves by the courts and his creditors.
Serepisos wants to work with insolvency specialists, court told
NBR - 30 August 2011
Wellington property developer Terry Serepisos has had bankruptcy proceedings against him adjourned so he can
organise the sell-down of over $230 million worth of property.

John Billington, Mr Serepisos' new lawyer, told the Wellington High Court today that his client wants to work with
insolvency specialists to sell his property portfolio, which includes about 150 residential properties and six
significant commercial properties, all in Wellington.

Mr Serepisos has debts of just over $203 million to 27 secured creditors so sales at valued prices would leave a
surplus for him of about $30 million.

http://www.nbr.co.nz/article/serepisos- ... d-ne-99707" onclick="window.open(this.href);return false;
I guess the surplus of $30m comes down to the accuracy of valuations versus sale prices in a depressed property
market. The saga continues.

ionet
Members
Posts: 2160
Joined: Fri Feb 18, 2005 2:33 pm
Location: Hawkes Bay

Re: Was Terry Serepisos Scammed?

Post by ionet » Fri Sep 02, 2011 9:35 am

_


Dont forget those pesky Homosexual Beer-Swilling Chain-Smoking mice that another large Wellington Property Investor has recently eluded to ;-)

Hope Terry has his tame mice population under control or +30 mil might multiply out to -$120 mil or greater very quickly - just ask a few of those Auckland Property Bigwigs and they will confirm the fact and risk of complete wipe-out ;-)



M
Ultimate Auction Security: Kick 'em in the pants & sweep them under the carpet fast before anyone sees & hope they go away.

User avatar
digidog
Site Admin
Posts: 15014
Joined: Wed May 05, 2004 2:25 am
First Name: Alfie
Location: Otago
Contact:

Post by digidog » Sat Sep 03, 2011 12:58 am

For those who don't understand ionet's reference to mice, here's the original and very funny story from the
pen of the inimitable Bob Jones.

http://www.nzherald.co.nz/nz/news/artic ... d=10748696" onclick="window.open(this.href);return false;

User avatar
Foggyone
Site Admin
Posts: 9880
Joined: Sat May 22, 2004 8:16 pm
First Name: Peter
Location: Lower Hutt
Contact:

Re: Was Terry Serepisos Scammed?

Post by Foggyone » Sun Sep 25, 2011 11:46 pm

It all becomes moot since Terry Serepisos has been declared bankrupt this morning.

It will be interesting to see if the official assignee makes any comment on this matter as a result of the investigations into Terry Serepisos' financial affairs.
Google, the answer to so many questions!
-----------------------------------------------------

User avatar
Foggyone
Site Admin
Posts: 9880
Joined: Sat May 22, 2004 8:16 pm
First Name: Peter
Location: Lower Hutt
Contact:

An Occer Scammed

Post by Foggyone » Sun Jan 22, 2012 11:45 pm

Victim of multimillion-dollar swindle embarks on a quest for justice
Over the past few years, dozens of Australian businessmen, thwarted in their attempts to refinance loans locally, made the pilgrimage to Mr Ali's office in Bahrain, buoyed by the promise of a financial lifeline. But it was all an illusion, a sophisticated scam whereby Mr Ali pocketed each borrower's 1.6 per cent establishment fee. With promised loans of up to $US200 million, the upfront fees had to be paid to secure the loans. Most investors lost several million dollars each.
Australians are not the only ones to have been fleeced by WGA. Terry Serepisos , a prominent New Zealand entrepreneur, spent most of last year attempting to stave off bankruptcy, repeatedly claiming he was about to be rescued by a $100 million loan from WGA. which was to become a half owner of Mr Serepisos's A-League football team, Wellington Phoenix. Deadlines for WGA's promised loan came and went until finally Mr Serepisos, who had relished starring in the Donald Trump role in the New Zealand TV version of The Apprentice, was finally bankrupted last September.
The heading of this thread was:

Was Terry Serepisos Scammed?

The answer would appear to be a resounding YES.
Google, the answer to so many questions!
-----------------------------------------------------

User avatar
digidog
Site Admin
Posts: 15014
Joined: Wed May 05, 2004 2:25 am
First Name: Alfie
Location: Otago
Contact:

Re: Was Terry Serepisos Scammed?

Post by digidog » Wed Feb 08, 2012 4:22 am

Backing up Foggy's summation is this story from TV3 News which confirms that the SFO has "approached an
overseas agency for information" on Ahsan Ali Syed - the man who ripped off Terry Serepisos in a 419 scam.

http://www.3news.co.nz/SFO-investigates ... fault.aspx" onclick="window.open(this.href);return false;

Post Reply

Who is online

Users browsing this forum: No registered users and 1 guest