Armstrong Way Investments: Pilbara property investment swindles 89 investors out of $9m in retiree disaster

Résumé détaillé

Investors who tipped more than $9 million into a property investment scheme have been left financially ruined after it emerged they all owned the one modest home in the Pilbara.

Investors who tipped more than $9 million into a property investment scheme have been left financially ruined after it emerged they all owned the one modest home in the Pilbara. The messy affair came to light after a Supreme Court judge picked apart an investment scheme most recently run by aspiring actor Trevor Loomes, a one-time Muay Thai fighter-turned-hair model whose claim to fame is a bit role on a Rikki-Lee Coulter music video. Investors transferred their retirement nest eggs from the likes of AustralianSuper and HOSTPLUS to self-managed funds. Money was then invested in a property at 30 Armstrong Way in the mining town of Newman.

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