Investors loose money with Roberto Badalotti's manager James Vallis. Investors were guaranteed 5% returns in a Brisbane Hotel project, three months after opening, the two companies underwriting the returns were in receivership and within another month the receiver had outed the hotel operator, Radisson Hotels. James is the manager of the development Mercato on Byron and the manager of Azzura Investments (see report on azzura investments).
https://www.couriermail.com.au/business/oaks-has-sued-contractor-james-vallis-over-allegations-he-improperly-removed-a-vast-amount-of-furniture-from-the-groups-caloundra-site/news-story/20eee863c69f6b76715dee670c0ddd13
https://www.afr.com/property/pacific-international-in-queensland-push-20010112-k0ufb
Alfred
Surfers Paradise,#2Author of original report
Fri, January 03, 2020
Investors loose money with Roberto Badalotti's manager James Vallis. Investors were guaranteed 5% returns in a Brisbane Hotel project, three months after opening, the two companies underwriting the returns were in receivership and within another month the receiver had outed the hotel operator, Radisson Hotels. James is the manager of the development Mercato on Byron and the manager of Azzura Investments (see report on azzura investments).
Links:
https://www.couriermail.com.au/business/oaks-has-sued-contractor-james-vallis-over-allegations-he-improperly-removed-a-vast-amount-of-furniture-from-the-groups-caloundra-site/news-story/20eee863c69f6b76715dee670c0ddd13
https://www.afr.com/property/pacific-international-in-queensland-push-20010112-k0ufb
Checkout Ripp off Report on Roberto Badalotti
https://www.ripoffreport.com/report/roberto-badalotti/gold-coast-queensland-robert-1489892
Alfred
Surfers Paradise,#3Author of original report
Fri, January 03, 2020
Wingate an Australian property finance company is involved with a group of Gold Coast developers who engage in fraud, money laundering and misleading and deceptive conduct. The financer was reported to have stole $2,000,000 from Gold Coast developer and scammer Roberto Badalotti who threated to shoot a Pastor of a Byron Bay Church Group. Badalotti is being investigated by NSW police.
View the news story here in the Gold Coast Bulletin: https://tinyurl.com/vgbneey
Wingate lent money to another Gold Coast Developer William Odwyer of Ralan Group who is being investigated by the Fraud Squad for running two sets of books. Ralan Group Collapsed Leaving Creditors $500m in the Red.
https://www.theaustralian.com.au/business/property/ralan-group-ran-two-books-ahead-of-collapse/news-story/f17efbea165e3c4009befec674adec3b
Wingate also lent large sums of money to Chinese Group Boyuan Holdings (ASX:BHL) Unfortunately, shareholders of Boyuan Holdings Limited (ASX:BHL) have suffered share price declines over the last year.
The question investors should be asking is WHO IS APPROVING THESE LOANS AT WINGATE. INVESTORS SHOULD BE VERY CONCERNED!