‘I realised that he’d been running a Ponzi scheme’: Business partner’s shock discovery
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Shane Maguire, the business partner of John Adams, has given evidence in a Melbourne court about discovering a secret cache of loan files in Adams' office after his death in 2023
The discovery led Maguire to believe that Adams was operating a $100 million Ponzi scheme through their Ivanhoe law firm
- The scheme is estimated to be worth $100 million.
- Maguire and Adams were long-time business partners.
Who's reporting it
- SMSydney Morning Herald - Latest News (AU)Left
‘I realised that he’d been running a Ponzi scheme’: Business partner’s shock discovery
- BTBrisbane Times (AU)Left
‘I realised that he’d been running a Ponzi scheme’: Business partner’s shock discovery
- TAThe Age (AU)Left
‘I realised that he’d been running a Ponzi scheme’: Business partner’s shock discovery
Why it matters
The alleged Ponzi scheme could have significant financial implications for those affected
- Possible prosecution of those involved in the alleged Ponzi scheme
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