LUX Property Group founder Jamie McIntyre has called for the immediate return of an alleged AUD $6–7 million in Marina Bay City investor funds that he claims were directed by Adrian Campbell and Hilton Wood into offshore Hong Kong and other bank accounts.
“If the money is returned, every affected Marina Bay investor’s villa will be built,” Mr McIntyre said.
Mr McIntyre alleges that Marina Bay sales contracts were issued without the developer’s authority and that bank details were changed so some purchasers paid up to 100 per cent of their funds into accounts connected with third parties, while LUX Property Group’s Indonesian developer company was left carrying the construction liability.
He says approximately AUD $10 million was paid through a payment-transfer account operated by Hilton Wood, but that Kinnara’s own audit reportedly showed only approximately AUD $3.18 million initially reached the Indonesian developer. A further approximately AUD $494,000 was later transferred.
“The evidence is in the contracts, bank-account details, payment records and audit figures,” Mr McIntyre said.
“Instead of returning the money, we allege that investor funds have been used to finance a highly paid public-relations campaign designed to blame and financially destroy the developer that reported the suspected fraud.”
Mr McIntyre said LUX Property Group’s sales collapsed following negative media coverage, causing millions of dollars in lost revenue and seriously damaging its ability to fund construction.
He also called for Australian and Indonesian authorities to investigate the alleged diversion of Marina Bay funds, Mr Campbell’s involvement in the former GIM Trading business and funds raised for the Saraya Lombok project.
Mr McIntyre said LUX Property Group had previously offered, at its own cost, to provide affected investors with their allocated land despite allegedly not receiving their full purchase funds.
“The developer cannot reasonably be expected to pay twice—first through investor money allegedly diverted elsewhere and then again from its own pocket,” he said.
“Return the missing six to seven million dollars, and we will ensure every affected investor’s villa is built.”
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Max Markson
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This release reports allegations made by Jamie McIntyre and LUX Property Group. The current Marina Bay City and Saraya Lombok allegations have not been finally determined by a court. All persons named are entitled to respond and retain the presumption of innocence concerning unresolved criminal allegations.
