I go chop your dollar

Terry Serepisos has been having a lend for a while with his outlandish promises of the imminent arrival of $100 million from Western Gulf Advisory.

Nowhere in the world has WGA coughed with the cash and still Terry is conning the IRD and other creditors. Other people though are taking action against WGA.

A Kiwi property investor who claims he has been duped out of more than $1million has used a private investigator to freeze Swiss bank accounts of alleged international loan scammer Western Gulf Advisory.

WGA, owned by Indian-born Ahsan Ali Syed, is the same company used by Wellington property developer Terry Serepisos for a yet-to-be-received US$100m (NZ$114m) loan to restructure his Century City group of companies.

McNabb Group Properties – which paid NZ$1.1m in loan fees to WGA for a US$50m loan that never eventuated – has filed criminal complaints against WGA in Switzerland and Bahrain.

The moves follow a series of events that began last August when MGP sought funding for an Auckland hotel and for the Waihi Gold Discovery Tourism Centre, and was approached by WGA’s New Zealand middleman, Daniel Hunt. MGP followed due diligence for several months before advancing $1.1m to WGA to cover loan fees.

But alarm bells started to chime in mid-March when the loan did not eventuate on the agreed date and WGA breached the agreement by not returning the fees when requested.

The company hired private investigator Mark van Leewarden, who travelled to Dubai and Switzerland with enough evidence to persuade Swiss banking authorities to freeze WGA accounts. The Bahraini bank accounts of WGA were frozen last month by Australian investors who claimed Mr Ali had scammed them for A$100m.

What are the chances of Terry’s magically imaginary $100 million appearing?

Terry needs Daryl Kerrigan to give him some advice.


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story.  And when he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet.   Cam Slater doesn’t do quiet, and as a result he is a polarising, controversial but highly effective journalist that takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him.  But you can’t ignore him.