A glamorous couple flaunted their lavish lifestyle before their building firm suddenly collapsed with some contractors claiming they are still owed money.
Cynthia Lu and Yusuf Khan’s perth-based company Modco Residential announced it had entered voluntary administration on Monday.
The organisation was launched in 2020 with an exclusive VIP party that was attended by Perth‘s supercar driving A-list – before going bust just three years later.
The company vowed to build cost-effective homes within a short 20-week period.
Modco Residential director Damien Clancy issued an emotional letter blaming industry challenges and the media for the downfall of the firm.
The shock news comes as some contractors claim they are still waiting to be paid their six figure bills with complaints going back as early as April 2022.
Ms Lu’s Instagram account is packed with photos showing off her and her partner’s glamorous lifestyle – with the couple posing in front of luxury cars and flying in business class.
Modco Residential, based in Perth and founded by glamour couple Cynthia Lu and Yusuf Khan (pictured), entered voluntary administration on Monday
It was launched in late 2021 an exclusive VIP party attended by WA’s A-list (pictured)
