Scandal Pendles Taken for $2 mill

[VinnieB]

Pendles bought a 7 million dollar home in 2023.
Probably starting to feel the strain of such a ridiculously extravagant expense.

Didn’t he sell his home for over $6m to ‘upgrade’? So doubt it…..

 

[Forever North]

The whole Western United thing has been one giant shemozzle. Council promised cheap parcels of land to investors who were supposed to build this state of the art 15k seat soccer stadium in the middle of Tarneit in return. Hasn't happened nor will it. Only a crappy training venue has been built so don't expect the council to hand any more land over. Those that have put money in have done their dough unfortunately. Jason has been involved in a few dodgy deals over the years......allegedly. Pendlebury probably going to keep playing for another decade as he now needs the cash.

 

[Sainter3and7]

I imagine he got sent false balance sheets every month etc... believed them. Many people are easily conned.

 

[VinnieB]

So he's had to borrow another million as well as paying through the roof for a property which will struggle to sell for the same price in 10 years time?

Reading the papers, he sold for $6.5m. Apparently he purchased that property for $2m and obviously spent money on it. His in-laws are builders.

Not sure why you want to make it an affordability issue. The guy doesn’t notice a couple of million $$$ has been taken from one of his bank accounts and you think he has only noticed because he bought a $7m home and can’t afford it.

You are a very stupid person.

 

[windyhill]

When pendles finally stops his football career at what ? 41/42 ? He'll still have that famed basketball career to fall back on that we keep hearing every ****ing commentator bang on about, to keep the money flowing.

 

[Sentinel]

Instead, the two former mates agreed that Mr Sourasis would have between six months and a year to repay the money, at an eye-watering 50 per cent per annum interest.

Pendlebury claims Mr Sourasis is yet to repay a cent.

Whoa

And to think Joel Selwood was only getting a measley 15% p.a. on his alleged loan.

The $100,000 loan contract between Cats legend Joel Selwood and an accused fraudster

Loan documents reveal a man now under police investigation proposed to borrow $100,000 from Selwood, who would be repaid the principal and interest of $10,000 after eight months.

www.theage.com.au

 

[largebus]

Who gives access to a 3rd party to enable them to access their own bank account? I don't care what the arrangement was or who he was dealing with, you don't give anyone any access to your accounts.

My wife and I have just engaged a financial planner (as we are nearing 60) and there is no way they are getting access to our accounts unabated.

Also, the article states that over 50 withdrawals were done between Jan 2015 and Dec 2023 and Pendlebury has only just become aware of these?

Am I missing something here?

He had a basketball background not a finance one. Footballers aren't exactly Rhodes Scholars

 

[VinnieB]

I'm merely pointing out the fact he and his young family are feeling the pinch having just bought this mansion and now going to pay lawyers in the hopes of recovering money he lost from this financier.

Maybe Collingwood will get him to 500 games afterall.

I heard he was a very good basketball prospect

So Chris Scott needed to find another paid role with a Geelong sponsor. Must have a significant gambling problem.

 

[VinnieB]

lol
Vinnie, you need to go pat your dog.

You need to stop patting yourself.

 

[VinnieB]

You watched Pendlebury in one of his recent podcasts?

It's no wonder someone with a bachelor's degree squindled shit loads of $$$ out of him.

You seem to have an issue he owns a $7m home. Sad really.

 

[Satan]

He had a basketball background not a finance one. Footballers aren't exactly Rhodes Scholars

Mike fitzpatrick says hi

 

[Blightys Barrel]

I’m guessing that the last few 1 year contract deals for Pendles would have been decreasing in value. Have to pay those Daicos boys and other big names they have bought across like Houston.

So outside of match payments. How many active sponsorship's does he have with footwear, clothing etc companies + any media work he is dipping the toe in the water.

Going Legal is never cheap to bring the action before the courts, as it takes time and with no guarantee of getting back your full losses. If his ex manager pleads bankruptcy, then it’s cents in the $1. Not a great position to be in at the tail end of a great career.

 

[Cyclonus]

Steals millions yet can't afford a good rug.

 

[DaTBird187]

I'm shocked Pendles didn't pick up on any of this. What with his basketball background and ability to slow everything down around him.

 

[Blightys Barrel]

Steals millions yet can't afford a good rug.

View attachment 2462729

He should have booked a flight with Turkish Hairways

 

[WillHayward]

What I've learnt in this thread is everyone on bigfooty is a financial wizard.

 

[Satan]

Steals millions yet can't afford a good rug.

View attachment 2462729

whats with the shirt

 

[Satan]

What I've learnt in this thread is everyone on bigfooty is a financial wizard.

jeff farmer

 

[Rabish Binney]

He had a basketball background not a finance one. Footballers aren't exactly Rhodes Scholars

That doesn't really make sense.

Are you saying that everyone who isn't savvy with Financial planning and engages one to look after their investments / moneys / superannuation etc should give access to their own bank accounts to their planner?

My Financial planner advises me on where he thinks my Superannuation should be invested or changed according to what the market is doing at the time. It is up to me to agree to change that mix or not. He cant make any changes without my written permission

And he sure as hell doesn't have access to my bank accounts.

 

[Pres]

It's not 100% clear to me what role this Sourasis guy actually played for SP10. He appears to have deleted his bio from the company website.

Was he his official registered financial planner or more a generic/nebulous "investment advisor"?

Their company planning "process" specified on the website talks about development of a financial plan/Statement of Advice for their clients.

Accordingly I would assume that Scott just needs to have a look at his financial plan. If the investments in question (eg investments in Western United businesses) were not on the plan and money was being diverted to them then I'd assume he has clear recourse.

I'm sure those in the Financial Planning business can weigh in!

 

[largebus]

That doesn't really make sense.

Are you saying that everyone who isn't savvy with Financial planning and engages one to look after their investments / moneys / superannuation etc should give access to their own bank accounts to their planner?

My Financial planner advises me on where he thinks my Superannuation should be invested or changed according to what the market is doing at the time. It is up to me to agree to change that mix or not. He cant make any changes without my written permission

And he sure as hell doesn't have access to my bank accounts.

Its basic to you and me but most AFL players enter the system after high school and thus many dont get the opportunity to develop the life skills we would consider normal.

Sourasis likely knew this and took advantage, like scammers take advantage of old people.

Now comes out today he owes the ATO 6.7 mill, the flog is obviously an experienced shyster.

 

[Satan]

Its basic to you and me but most AFL players enter the system after high school and thus many dont get the opportunity to develop the life skills we would consider normal.

Sourasis likely knew this and took advantage, like scammers take advantage of old people.

Now comes out today he owes the ATO 6.7 mill, the flog is obviously an experienced shyster.

toot toot

 

[Blightys Barrel]

Its basic to you and me but most AFL players enter the system after high school and thus many dont get the opportunity to develop the life skills we would consider normal.

Sourasis likely knew this and took advantage, like scammers take advantage of old people.

Now comes out today he owes the ATO 6.7 mill, the flog is obviously an experienced shyster.

Pendles and other creditors sitting behind the Govt before getting paid. It might end up being a few paper clips and half a jar of Maxwell House instant when all is said and done.

He should call Leppisch right now and ask for a 10 year extension.

 

[IKnowtheDog]

Got to love how these stories reach the press

 

[Satan]

Got to love how these stories reach the press

Court documents?