that $4 million he sold would be worth $311,000 at current prices. He couldn't let Promnitz walk away with $20 million plus and him not do the same. He was smart offloading at that time. Same as Nicholas Lindsay who offloaded because he said he retired and than he got another job a few months later and he is still working. This was nothing but a Ponzi scheme plain and simple. Transfer of wealth from naive retail to insiders right on the ASX's doorstep. Their laws let this sort of behaviour happen
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