When an employee of non-bank lender Oak Capital was chased through the lobby of the Rialto in melbourne’s CBD by a TV reporter 18 months ago and cornered in a women’s toilet cubicle, it was seen as tabloid media behaving badly.
But now Oak Capital Wholesale Fund, which lends to businesses and individuals using real estate as collateral, is in liquidation, a legal case against it from the corporate regulator is frozen, and the employee who worked in the company’s lending operation and at the centre of the foot chase, Mo Ahmed, is accused of being a bankrupt.
Oak Capital, which in 2024 said it had $700 million in funds under management, was recently tipped into liquidation, and appointed Robson Cotter Insolvency Group. The move temporarily halted two separate litigation cases in the Victorian Supreme Court and the Federal Court of Australia, in which the company is accused of unconscionable conduct.
The TV report never made it to air after Oak Capital filed a Supreme Court injunction. Nine’s A Current Affair agreed never to…