Investors who tipped in $11.4 million earmarked for residential property projects are being left largely empty-handed after property developer Greg Shaw was declared bankrupt on Thursday.
More than 130 investors tipped $14.1 million into projects across NSW, Queensland and Victoria after a marketing blitz run by self-styled property mogul Sasha Hopkins on Facebook in 2021.
The residential units investors put money into never came to fruition. Jessica Shapiro
An investigation by The Australian Financial Review published in March last year revealed that Mr Hopkins had on-lent $11.4 million of investor money to Mr Shaw and his building company to construct some proposed projects, but was left trying t…
Read the full article at: https://www.afr.com/property/residential/investors-left-in-the-lurch-after-developer-shaw-declared-bankrupt-20230316-p5cskm