Scandal Pendles Taken for $2 mill

[WillHayward]

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.

You must be loaded mate.
Next time I come to Adelaide we are going out!
Cans and a Parma. Your shout.

 

[WillHayward]

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.

More likely the bloke didn't set out to scam but just had ambitions more than he could achieve and then gradually started having to cover his tracks..
These things usually start small and gradually get worse...
Bloke was obviously able to get people to trust him...
He probably believed most of the bullshit himself...

 

[WillHayward]

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.

Finally his chance to test himself in the NBA

 

[WillHayward]

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.

I never understand how anyone can get an ato debt so big. Some people owe way more than this.

If I owe them ten bucks the pricks come after me like I'm a criminal.

Yet you always read about blokes (it's usually blokes) who get a debt out to millions and the ATO don't seem to give a shit about it.

 

[matthew_s]

I never understand how anyone can get an ato debt so big. Some people owe way more than this.

If I owe them ten bucks the pricks come after me like I'm a criminal.

Yet you always read about blokes (it's usually blokes) who get a debt out to millions and the ATO don't seem to give a shit about it.

Prior to covid the ATO were very accommodating. You’d go years before hearing from them and when you did, there was so many ways to delay and pay off any debt.

Since covid, it’s a different story.

 

[Rabish Binney]

You must be loaded mate.
Next time I come to Adelaide we are going out!
Cans and a Parma. Your shout.

Why do you say that?

Not loaded at all.

Financial Planner looks after my Superannuation only. I don't have any other investments

 

[Rabish Binney]

I never understand how anyone can get an ato debt so big. Some people owe way more than this.

If I owe them ten bucks the pricks come after me like I'm a criminal.

Yet you always read about blokes (it's usually blokes) who get a debt out to millions and the ATO don't seem to give a shit about it.

Depends who you are.

This actually wasn't a tax debt but interest and penalties arising from late tax payments. I wonder if you or I would have been afforded the same luxury?

4 Corners ran an show only a couple of months ago about the ATO. Seems there's something like $55bn owed to them. And they're not really going after the 'big fish' as they know it will cost time and money to pursue them

ATO reverses decision to bill ex-PM's company $950k

The unusual decision, which came after years of negotiations, provides a rare glimpse into the ATO's inner workings when overturning its own decisions on tax debt.

www.abc.net.au

 

[Generalissimo]

4 Corners ran an show only a couple of months ago about the ATO. Seems there's something like $55bn owed to them. And they're not really going after the 'big fish' as they know it will cost time and money to pursue them

Going after regular folks like us over "debts" sometimes over a decade old, is what I heard. They say you've only got to hold on to records for seven years tops they say, then they go and do stuff like this.

 

[GudOnya]

Depending on the type of "investments" being made from the account and their success it may actually be quite hard to notice a couple mill going missing over a few years. I do some day trading and my accounts constantly have money going in and coming out, obviously not millions but when there are thousands of transactions a year happening when I'm making a profit I probably wouldn't notice if the money coming in was a few % lower than it should be or there were a few unexplained transfers in amongst them. If the total is still going up you tend to pay less attention to the actual numbers day to day.

 

[Rabish Binney]

Depending on the type of "investments" being made from the account and their success it may actually be quite hard to notice a couple mill going missing over a few years. I do some day trading and my accounts constantly have money going in and coming out, obviously not millions but when there are thousands of transactions a year happening when I'm making a profit I probably wouldn't notice if the money coming in was a few % lower than it should be or there were a few unexplained transfers in amongst them. If the total is still going up you tend to pay less attention to the actual numbers day to day.

I assume you have 100% control over your moneys being invested or withdrawn on this platform & that you haven't given authority for a 3rd party to access your bank account to do so?

 

[GudOnya]

I assume you have 100% control over your moneys being invested or withdrawn on this platform & that you haven't given authority for a 3rd party to access your bank account to do so?

I do have 100% control yes, so I can only imagine that if other people were accessing my account then tracking it properly would be even more difficult.

I'm not saying that giving a mate access to your bank account isn't a stupid idea, just that it isn't really that far-fetched to think that Pendles might not have noticed the money going missing gradually over the years.

 

[Rabish Binney]

I do have 100% control yes, so I can only imagine that if other people were accessing my account then tracking it properly would be even more difficult.

I'm not saying that giving a mate access to your bank account isn't a stupid idea, just that it isn't really that far-fetched to think that Pendles might not have noticed the money going missing gradually over the years.

Unfortunately given the person who has (allegedly) done this, I think Pendlebury's chances of getting all or some of the moneys back are slim...

 

[dmc333]

This will probably only get worse in the years ahead.

More players getting silly money will see people pitching them more garbage ideas to invest in.

In reality, the more their contracts go up the less risk they need to take.

 

[Thrillthorpe7]

Why do you say that?

Not loaded at all.

Financial Planner looks after my Superannuation only. I don't have any other investments

Money managers for athletes in particular are very common in the US as so many of them were going bankrupt very quickly after retirement.

There was a whole fictional TV show about it (Ballers).

It’s designed to make sure they don’t spend their money on stupid things or get conned into a scam.

 

[Sydney Kicker]

This saga reminds me of one of the all time great Sports Illustrated articles about the many ways athletes lose their money.

How (and Why) Athletes Go Broke

What the hell happened here? Seven floors above the iced-over Dallas North Tollway, Raghib (Rocket) Ismail is revisiting the question. It's December, and

vault.si.com

My favorite... "About five years ago, Hunter says, he invested almost $70,000 in an invention: an inflatable raft that would sit under furniture. The pitch was that when high-rainfall areas were flooded, consumers could pump up the device, allowing a sofa to float and remain dry."

Perhaps it's lucky Pendles NBA career didn't work out.

 

[Rabish Binney]

This saga reminds me of one of the all time great Sports Illustrated articles about the many ways athletes lose their money.

How (and Why) Athletes Go Broke

What the hell happened here? Seven floors above the iced-over Dallas North Tollway, Raghib (Rocket) Ismail is revisiting the question. It's December, and

vault.si.com

My favorite... "About five years ago, Hunter says, he invested almost $70,000 in an invention: an inflatable raft that would sit under furniture. The pitch was that when high-rainfall areas were flooded, consumers could pump up the device, allowing a sofa to float and remain dry."

Perhaps it's lucky Pendles NBA career didn't work out.

Wow.

Look up Peter Brock's engine energy polarizer.

I know there were no investors involved but it did lead to Holden and Brock's split (Brock was a bit of a knob to be honest)

How people get these ideas in their minds I'll never know

 

[theprospector]

Nothing to see here , couple of investments which have gone wrong for the time been but let’s keep it off the public record. There’ll be no more discussion on this one, thanks all.

 

[IAMDASH]

I never understand how anyone can get an ato debt so big. Some people owe way more than this.

If I owe them ten bucks the pricks come after me like I'm a criminal.

Yet you always read about blokes (it's usually blokes) who get a debt out to millions and the ATO don't seem to give a shit about it.

OnlyFans 'sugar daddy' and wife embroiled in $61 million tax mischief

A Gold Coast house purchased for an OnlyFans creator by a small-town businessman is among 20 properties frozen by the Federal Court in a $61 million tax case.

www.abc.net.au

 

[Blightys Barrel]

Wow.

Look up Peter Brock's engine energy polarizer.

I know there were no investors involved but it did lead to Holden and Brock's split (Brock was a bit of a knob to be honest)

How people get these ideas in their minds I'll never know

I think when Peter “not so Perfect” Brock left his wife and took up with the new Girlfriend. She was into the WooHoo and Crystals big time and clearly convinced him that fantasy and mechanical science could exist in harmony for about $500. A shame that it did not make the car go any faster or be more efficient.

Have heard also that Brock’s biggest fan was Brock himself and thought his sh*t didn’t stink.

 

[GWT6]

Basketball.







It just needed to be mentioned.

 

[Whats a Battle]

Steals millions yet can't afford a good rug.

View attachment 2462729

I'm fairly sure he stole my late grandmother's tablecloth and is wearing it as a shirt.

 

[Whats a Battle]

I think when Peter “not so Perfect” Brock left his wife and took up with the new Girlfriend. She was into the WooHoo and Crystals big time and clearly convinced him that fantasy and mechanical science could exist in harmony for about $500. A shame that it did not make the car go any faster or be more efficient.

Have heard also that Brock’s biggest fan was Brock himself and thought his sh*t didn’t stink.

I always thought that Brocky was big on the booze/smokes/etc and then started seeing a chiropractor in the 80s that got him clean but convinced him about all the woo woo shit?

Great driver, but yeah, horrible human.

 

[IamKeyserSoze]

I always thought that Brocky was big on the booze/smokes/etc and then started seeing a chiropractor in the 80s that got him clean but convinced him about all the woo woo shit?

Great driver, but yeah, horrible human.

On the money here. It was his chiro that sent him on the path or crystals.
There is and excellent book "The Rise and Fall of Peter Brock" that details how it all went. Bit of a sad story for all the collateral damage caused and the demise of HDT as a business.
In todays age of assassination by social media he would never have reached the level of fame he did with the way he led his life.

 

[Fulgent]

I think when Peter “not so Perfect” Brock left his wife and took up with the new Girlfriend. She was into the WooHoo and Crystals big time and clearly convinced him that fantasy and mechanical science could exist in harmony for about $500. A shame that it did not make the car go any faster or be more efficient.

Have heard also that Brock’s biggest fan was Brock himself and thought his sh*t didn’t stink.

He and Bev were never actually married, though she took his name via deed poll. I don't want to malign her, but I recall she passed herself off as his wife. Bev was married to another bloke when he started his relationship with her, as was the case with the woman he left Bev for. Leopard, spots...

 

[McConville]

Prior to covid the ATO were very accommodating. You’d go years before hearing from them and when you did, there was so many ways to delay and pay off any debt.

Since covid, it’s a different story.

You mean since Labor got into power and have to find ways to pay back the monstrous debt they've created?