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Mawhinney lashes out at regulator

Mayfair 101 founder James Mawhinney has accused ASIC of a witch hunt, saying a provisional liquidators' report proves M101 Nominees had no "smoking gun" - but the report actually refers to the company's business model as unsustainable.

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Read more: MayfairASICEleutheraJames MawhinneyBahamasEleutheriaGrant ThorntonM101 HoldingsPonziSunseeker Trust