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Equititrust?

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Joint Venture with Borrowers... This is just the start of the revelations

Alluvial Windsor district turf, dairy and polo farms of Achilles 'Big Al' Constantinidis listed for receivership sale


Jonathan Chancellor
Monday, 09 July 2012

polo.jpg

The land cost $21 million plus in 2007. Mark McIvor's Queensland-based lender, Equititrust, has a mortgage over the land and is believed to be owed $22 million plus, having been involved as quasi joint venturers with Constantinidis.


http://www.propertyobserver.com.au/...is-listed-for-receivership-sale/2012070955487
 
Equititrust Scam

At what point did Equititrust / McIvor start to gamble retiree's investor's money on "joint ventures"...

This was not the first time McIvor double dipped at the expense of retiree's to feed his greed... What other joint ventures were there ??? What else will David Whyte uncover ??? What else will he have to report to the authorities including that bully that McIvor hates soooo much ASIC...
 
"King Con" and "McIvor"

What really went on between "King Con" and McIvor... Maybe some of the ex employee's will shed some light on these "arrangements"...

Was "King Con" managing the "Wirina Cove" Assets ? Lets get to the bottom of this... If this is the case then this disaster takes on another dimension...
 
Re: "King Con" and "McIvor" : working in unison

there were atleast two major Equititrust loan assets where King Con was given free reign to run the assets on site and charge huge fees for doing so..... in relation to the Wirrina Cove assets, I am told that any interview of the present management and the past Mortgagors will confirm this arrangment and that an accounting showing millions of dollars taken by Quinlivan with McIvor's concurrence against these assets is clearly shown.

No Trust said:
What really went on between "King Con" and McIvor... Maybe some of the ex employee's will shed some light on these "arrangements"...

Was "King Con" managing the "Wirina Cove" Assets ? Lets get to the bottom of this... If this is the case then this disaster takes on another dimension...
Click to expand...
 
McIvor and King Con

If this is the case then David Whyte who is in control of these assets needs to make a statement. Investors have been asking questions about King Cons's involvement in assets for some time...

If this is the case, was McIvor insane in letting King Con near these assets...
 
Re: McIvor and King Con

basically, all that WHYTE has to do is to do a forensic analysis of each large loan ledger and identify all and any payments made to Quinlivan's company - CROFTSWORTHS - these costs and fees will have been sheeted away into loans etc which in EQUITITRUST ledgers then constitute 'assets' when in reality such payments were more than likley were never with the agreement of the MORTGAGOR; not of any value to the real estate asset (and the Equititrust investors); and also, more than likley, based on the true asset value, were more than likley, ever going to be recoverable.

Where did that money go?

Frankly, such activity, if correct, is tantamount to a conspiracy to defraud INVESTORS be creating false asset values (ie: inflating the value of loans made); against known inflated valuations; with, therein, little if any chance of recovery; and if the funds so taken were not bona fide project related costs - and were delat with improperly in any way, then the offences committed run much deeper.



No Trust said:
If this is the case then David Whyte who is in control of these assets needs to make a statement. Investors have been asking questions about King Cons's involvement in assets for some time...

If this is the case, was McIvor insane in letting King Con near these assets...
Click to expand...
 
Re: McIvor and King Con

There is more to this than meets the eye, and if true needs to be exposed for what it is...


kostag said:
basically, all that WHYTE has to do is to do a forensic analysis of each large loan ledger and identify all and any payments made to Quinlivan's company - CROFTSWORTHS - these costs and fees will have been sheeted away into loans etc which in EQUITITRUST ledgers then constitute 'assets' when in reality such payments were more than likley were never with the agreement of the MORTGAGOR; not of any value to the real estate asset (and the Equititrust investors); and also, more than likley, based on the true asset value, were more than likley, ever going to be recoverable.

Where did that money go?

Frankly, such activity, if correct, is tantamount to a conspiracy to defraud INVESTORS be creating false asset values (ie: inflating the value of loans made); against known inflated valuations; with, therein, little if any chance of recovery; and if the funds so taken were not bona fide project related costs - and were delat with improperly in any way, then the offences committed run much deeper.
Click to expand...
 
50M Capital Raising - Concealment of Losses

Can you imagine what would have happened to innocent investors if the 50M capital raising was allowed to continue... ASIC smelt a rat and thankfully put a stop to it... Colin Kruger of the SMH was the first to alert the Australian Public to what, all can now see was a scam of epic proportions...
 
"King Con" and "McIvor"

If "King Con" was involved in the management of any of the assets whilst being a borrower, then this puts another twist on this disaster which needs to be investigated not only by the regulator but by other authorities as well...
 
McIvor - King Con

If McIvor was so STUPID to lend money to a two time Bankrupt and even give him a glowing reference to ASIC when he was being banned as a director, how on earth could he have allowed "King Con" to manage these assets...

Why did McIvor give him such a glowing reference??? What has gone on here ???


Investors lose in encounter with King Con

June 13, 2011

Colin Kruger

Sydney Morning Herald


"The judgment reports how McIvor effectively provided a reference for the developer, speaking ''of Mr Quinlivan's personal qualities and experience and the pivotal role he plays in the company''. "

"Nearly a year after this judgment was handed down, the Quinlivan Group was on the verge of collapse. EIF investors still had no inkling of their loan to ''King Con'' and Equititrust was still crowing about how investors' funds were intact and income distributions were being maintained."


http://www.businessday.com.au/business/investors-lose-in-encounter-with-king-con-20110612-1fz9d.html
 
Re: McIvor - King Con

David Whyte, Colin Kruger and ASIC are right on to this conduct

people are being interviewed and the trail of money being pursued

McIvor knows the real gig is just about up.




No Trust said:
If McIvor was so STUPID to lend money to a two time Bankrupt and even give him a glowing reference to ASIC when he was being banned as a director, how on earth could he have allowed "King Con" to manage these assets...

Why did McIvor give him such a glowing reference??? What has gone on here ???


Investors lose in encounter with King Con

June 13, 2011

Colin Kruger

Sydney Morning Herald


"The judgment reports how McIvor effectively provided a reference for the developer, speaking ''of Mr Quinlivan's personal qualities and experience and the pivotal role he plays in the company''. "

"Nearly a year after this judgment was handed down, the Quinlivan Group was on the verge of collapse. EIF investors still had no inkling of their loan to ''King Con'' and Equititrust was still crowing about how investors' funds were intact and income distributions were being maintained."


http://www.businessday.com.au/business/investors-lose-in-encounter-with-king-con-20110612-1fz9d.html
Click to expand...
 
Re: McIvor - King Con

I have it on good authority that another Media Outlet is also on hot pursuit of this story... If there is any substance to this then this will be akin to opening Pandora's box... It's unimaginable that this could have happened with innocent retiree's money...


kostag said:
David Whyte, Colin Kruger and ASIC are right on to this conduct

people are being interviewed and the trail of money being pursued

McIvor knows the real gig is just about up.
Click to expand...
 
McIvor - King Con

It seems from recent inquiries that the two names McIvor and "King Con" are melded together... One thing is for sure and that is when you give these two magicians tens of millions of dollars they can make it disappear very vey quickly...

How's life looking now guys...

These clowns are "both" about be exposed very soon...
 
McIvor - King Con

Dirty deals and they're done "dirt" cheap...
 
Re: McIvor - King Con MEDIA

there are atleast two media outlets doing major undercover work that I have been told about

I also think that you will find that there is no love from Dudley toward Marky....

I think that once Dudley releases all he knows that Marky will be very very concerned...




No Trust said:
Dirty deals and they're done "dirt" cheap...
Click to expand...
 
McIvor - King Con

Where there is silence there are worrying concerns in terms of what went on... Why doesn't McIvor come out publically or maybe even send something to the Senate (I’m sure they would enjoy another laugh) denying the involvement of “King Con” in the management of assets…

The challenge is out there...
 
McIvor - King Con

Maybe David Whyte can shed some light on what happened with the assets... He has been the most transparent and consistent to date in terms of reporting... He was the right choice.

The Liquidator has been a joke, not posting the last report on the website makes it clear they have an agenda and do not want to keep the creditors and investors informed...
 
Westpac seeking possession of home

Is this McIvor's Co Conspirator / mother's home before the courts ??? Westpac is seeking possession of the property and the matter is set for trial 19th - 22nd of November...

Westpac have pushed the matter on to the commercial list expediting the trial so that the matter does not drag on for years...

Westpac have had a gutful of the McIvor's it seems as have the NAB, BOQ, and BOS...

Lets hope McIvor appears to give evidence at the trial...


http://apps.courts.qld.gov.au/esear...Location=BRISB&Court=SUPRE&Filenumber=1676/12
 
McIvor - King Con

Surely, the former directors know whether "King Con" was involved in managing Equititrust assets... Tucker was there long enough and close enough to McIvor to know the real truth... Did the former directors know about any involvement of "King Con" ???
 
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