The collapse of a property investment group, Members Alliance and Benchmark, has resulted in 72 criminal charges.
Last week, Richard Marlborough, Colin MacVicar, David Domingo, Liam Young and John Ramsden appeared in the Brisbane Magistrates Court charged with criminal offences relating to the collapse of the Members Alliance and Benchmark group of companies in 2016 and 2017.
The property investment companies were operated from the Gold Coast and allegedly offered financial advice to retail investors.
In 2016, the companies were placed into liquidation with $26 million owing to the Australian Tax Office.
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Marlborough was charged with 21 counts of trading while insolvent,10 counts of dishonestly using his position as a director, one count of disposing of property after becoming (or was about to be) a bankrupt and one count of fraud.
MacVicar was charged with 13 counts of trading while insolvent, one count of dishonestly using his position as a director and one count of disposing of property after becoming (or was about to be) a bankrupt.
Young was charged with four counts of trading while insolvent and five counts of dishonestly using his position as a director. Domingo has been charged with seven counts of trading while insolvent.
Ramsden, who acted as solicitor for Members Alliance, faces eight counts of aiding, abetting, counselling or procuring the commission of an offence.
The charges follow an ASIC-led Serious Financial Crime Taskforce (SFCT) investigation into the collapse of the groups and alleged associated phoenix activity.
The matter will next be heard in court in November.