Liquidators claim repayment from Marco’s ‘scheme’

Liquidators of Chris Marco’s property are seeking repayment from several people and a company they believe received funds from the unregistered investment scheme.

McGrath Nicol partners Rob Kirman and Rob Brauer were appointed as liquidators of Mr Marco’s company, AMS Holdings, and the alleged investment scheme after the Federal Court ordered the scheme be wound up in December 2020.

Mr Kirman and Mr Brauer, in their capacity as liquidators, last week lodged three writs in the Supreme Court of Western Australia naming Patricia Markopoulus, Tonpose Pty Ltd, Sebastien Mauchien, and Bradley David Rundin Williams as defendants.

The liquidators claim Mr Marco paid or caused various sums from the trust moneys to be paid to the defendants' benefit between September 2002 and October 2018, according to the writs.

The writs said Mr Marco allegedly transferred money obtained from the investors for private gain of related parties or associates.

It has been alleged Mr Marco told investors the money would be used as proof of funds with interest payments to be made to them from the profit generated.

In the writs, Mr Kirman and Mr Brauer are claiming repayment from the defendants and associated court costs.

The Australian Securities and Investments Commission launched an investigation into Mr Marco’s operation, claiming the Mt Hawthorn businessman owed about $240 million to 132 investors from his unregistered investment scheme, which operated for 16 years.

In February, Federal Court judge Michael Feutrill found it was appropriate for Mr Kirman and Mr Brauer to repay affected parties from a single mixed fund comprising Mr Marco’s cash at bank, property, investments and motor vehicles and assets held by his company.

Justice Feutrill said liquidators found $285.6 million deposited into scheme accounts with 91 per cent coming from the same investors or scheme members.

In his February 2023 judgment, Justice Feutrill said the liquidators would be justified in treating the investment scheme as a Ponzi scheme.

A WA Supreme Court judgment delivered in March 2020 shows that Ms Markopoulus, her company Tonpose, Mr Williams and his ex-wife Ann-Maree Lockett had launched proceedings against Mr Marco.

According to the 2020 judgment, Ms Markopoulus is the widow of Mr Marco’s second cousin Peter Markopoulus.

Mr Williams and his ex-wife were directors and shareholders of Tonpose, the 2020 judgment said.

Mr Marco is also facing 50 counts of fraud under the Criminal Code, with ASIC alleging he defrauded $36.5 million from nine investors.