This article is from the Australian Property Journal archive
THE Brisbane District Court has found former Queensland property developer Craig Gore guilty of committing fraud.
Gore was found guilty of six counts of fraud involving amounts totalling $345,000 and will be sentenced on 26 November 2020. The trial proceeded on 12 counts of fraud, however, Gore was found not guilty on five counts with a further sixth count being dismissed because the court could not be satisfied the offending took place within the Queensland jurisdiction.
Gore was initially arrested on 14 April 2017 after being charged with fraud relating to the obtaining of funds from self-managed superannuation fund (SMSF) investors during 2013 and 2014. The funds obtained totalled approximately $800,000.
ASIC’s case focussed on Gore obtaining funds from SMSF investors through his role at Arion Financial Pty Ltd (Arion). Investors were presented with information that they could invest in debentures, with various promises that included a guaranteed return, high returns, and that the funds could be returned after a short-term period of investment.
The court found that in relation to four SMSF clients Gore was aware of the poor financial state of Arion at the time representations were made to them, and that there was no real Arion prospect of Arion repaying the invested amounts or the interest.
