Chinese investors spun by fugitive Michael Gu now stuck in Salter fund
The multibillion-dollar Salter Brothers asset management empire was seeded with money from Chinese investors steered into a fund run by Michael Gu, the Lamborghini-driving alleged fraudster who fled the country after his property business collapsed owing more than $60 million.
Documents and investor testimony obtained by The Australian Financial Review show that the foundations of Salter Brothers' $4 billion portfolio can be traced back to the Atlas Capital SIV Fund – a 2015 vehicle co-founded by Gu and Paul Salter to attract wealthy Chinese nationals under a scheme that offered visas in return for major investments in Australia.
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Chinese investors spun by fugitive Michael Gu now stuck in Salter fund
The multibillion-dollar Salter Brothers asset management empire was seeded with money from Chinese investors steered into a fund run by Michael Gu, the Lamborghini-driving alleged fraudster who fled the country after his property business collapsed owing more than $60 million. Documents and investor testimony obtained by The Australian Financial Review show that the foundations of Salter Brothers' $4 billion portfolio can be traced back to the Atlas Capital SIV Fund – a 2015 vehicle co-founded by Gu and Paul Salter to attract wealthy Chinese nationals under a scheme that offered visas in return for major investments in Australia.
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