THE BYRON SHIRE
Grab a bargain!
B UDGET SAVER S
Volume 26 #07 Tuesday, July 26, 2011 Mullumbimby 02 6684 1777 Byron Bay 02 6685 5222 Fax 02 6684 1719 editor@echo.net.au adcopy@echo.net.au www.echo.net.au 23,200 copies every week
page 19
THEY TRIED TO MAKE AMY GO TO REHAB
CAB AUDIT
Belle collapse hits courts negotiating to buy a number of properties in the area. In June, the High Court of New Zealand ordered the liquidation of the parent company of Mark Bryers’ failed property empire, which is now based in Australia. In recent weeks liquidators – accompanied by Australian police – forcibly entered the parent company’s Sydney offices to take books and records, in an attempt to chase the complex money trail. Investigators with the Office of Fair Trading in New South Wales have similarly seized computers and other materials from Sarah Dougan’s Belle Byron franchise, and are currently analysing the movement of monies in and out of trust funds.
Ray Moynihan
Dying cancer sufferer ‘shafted’ for $2000 by Belle Ray Moynihan
Belle, the cancer sufferer arranged a bank transfer. However in addition to the transfer, the cheque also arrived at Belle’s office, and was subsequently banked, which meant the woman had effectively paid the $2000 in marketing expenses twice. According to Neil Cameron, the agent working on the sale, Belle’s Byron staff, including principal Sarah Dougan, assured the woman that the money from the bank cheque would be refunded to her, though this did not in fact happen. Failing to receive the refund, the woman contacted Neil Cameron, and Belle’s national chief executive Peter Hanscomb, who told her the problem would be fixed and the
The upmarket real estate financier SaA woman dying of cancer has told rah Dougan is understood to be the The Echo she believes she was ‘shafted’ target of four separate court actions, as by Belle’s upmarket Byron Bay real investigations continue into hundreds estate agency, who failed to refund her of thousands of dollars missing from more than $2000 that she was owed. the Byron agency’s trust funds. The woman has asked to remain Ms Dougan’s Belle Byron franchise anonymous, but agreed to publicly is currently in the hands of accountdisclose details of her case, which forants, appointed by the Office of Fair Mark Bryers‌ bankrupt in NZ mer Belle Byron agent Neil Cameron Trading, which is running a major concedes was ‘really badly dealt with’. probe in conjunction with other law many hundreds of thousands of dolAfter selling her Bangalow property lars, though Ms Dougan declined to enforcement agencies. three months ago – and in the midst confirm whether any of the court proof undergoing multiple treatments for No funds to pay creditors ceedings against her were actually takterminal cancer – the woman sent a bank cheque to Belle to pay marketWhile people who’ve lost money ing place. A lawyer who until recently ing expenses associated with her sale. through involvement with Belle sales Due to a mix-up the cheque failed or rentals can make claims on a gov- worked with Ms Dougan on local to arrive on time, and following a ernment compensation fund, gen- property transactions, Ben Krascontinued on page 2 further request for the money from continued on page 2 eral trade suppliers and others owed nostein, is also named in that same money were told this week ‘there are legal case, which he says he is vigorno funds in the company to pay any ously defending. At the same time, The Echo has creditors’. Sarah Dougan, now based in Sydney, learned that an extremely high-profile denies any intentional wrongdoing real estate identity, convicted of multiand says she has not gained person- ple criminal charges in New Zealand, ally from any trust fund irregularities, has been involved in trying to purthough the financier is believed to be chase luxury property in Byron Bay. Mark Bryers was a key player in the facing claims from numerous people and businesses who say she owes them New Zealand property empire Blue Chip, which crashed spectacularly facamounts of money. Company documents reveal that ing allegations it encouraged people to in late 2010 Sarah Dougan took some borrow money for high-risk investform of loan from the family of Rod- ments in properties later discovered to ney Adler, the former insurance execu- be overpriced. tive jailed for making false and misFailed property empire leading statements to investors. Bryers, who is bankrupt and banned While unconfirmed, The Echo has been told the Adler loan to Sa- from being a company director for five rah Dougan may be in the order of years in New Zealand, has pleaded guilty to 34 financial-reporting related $300,000. It’s also understood a company breaches and a warrant is understood called Express Commission, which to have been issued for his arrest over advances money to estate agents on the non-payment of a fine. Recent media reports suggest inbasis of expected future commissions, claims it is also owed tens of thousands vestors hurt by the collapse of the property empire are still out of pocket by Ms Dougan. While the nature of recent court to the tune of $80 million and that proceedings is not yet clear, The Echo Mark Bryers owes creditors over $200 is aware two major Australian banks million. Emails sighted by The Echo suggest and two private companies have commenced legal action against Ms Dou- Mark Bryers was involved in trying to purchase an exclusive house in Byron gan and a number of her associates. In one of these cases it’s understood late last year, and it’s understood Mr Hot waves, cold winds and big crowds: that was the scene at The Pass, Clarkes and Main Beach on Saturday as a Sydney company claims it is owed Bryers or related entities may still be substantial swell met southerly wind, stood up and hollowed out. Photo Jeff ‘Totally Passed It’ Dawson
Crackin’ surf all weekend
ZKLOH VRPH WKLQJV JR XS
\RXU
interest rate ZRQ¡W 7HUPV DQG FRQGLWLRQV IHHV DQG FKDUJHV DSSO\ 6HH XV IRU GHWDLOV
6.8%
pa
\U À[HG UDWH KRPH ORDQ
EDQNLQJ RQ people
FDOO XV RU YLVLW 1300 802 222 VXPPHUODQG FRP DX
<echowebsection=Local News>