Liquidator explains why Chris Marco investors will wait for return from $15 million pool
Further details in the Perth Ponzi scheme case of Chris Marco have been revealed.
The bankrupt Perth businessman was accused of defrauding more than $35 million from nine investors when he faced court in July.
Chris Marco was charged with 50 counts of fraud related to an alleged 16-year Ponzi scheme.
He is on bail on those charges relating to $36.5 million.
Rob Brauer, the lead investigator from liquidator McGrath Nicol, told Liam Bartlett on 6PR Mornings that it has taken a long time to figure out where investors stand on the amount of money.
The liquidator is waiting on the Federal court on how to distribute a pool of $15 million returned to investors.
“When you step back and think about what’s the overall potential return for creditors,” he said.
“One is the size of the pool of funds that we have, but the other then is distribution methodology of how we return it.”
Press PLAY to hear the full interview.