How is a second mortgage of over 200 million against a property worth as is less than 1/10 of this anything but criminal activity.
Where did the money go.
At least in the US they got Madoff and threw away the key.
I bet Drake and ASIC will use the old chestnut that the funds could lend on gross realisable value and therefore the loan was within the rules.
To bad there was never a hope of recovery.
OCV
octaviar limited
