Four Corners: Aug 29

In “The Wolf of Woy Woy” on Four Corners, Caro Meldrum-Hanna reports on the working-class investors duped by a man the regulators won’t pursue.

“He promised me I’d make a fortune. He promised me, ‘This would change your life’.” First time investor

When a smooth-talking businessman came to a working-class Australian suburb his promises of a better life were intoxicating. Hundreds of investors believed him and bought shares in the mining exploration company he spruiked.

“We’re just battlers. You know we did what we thought was right, we were led to believe it was going to make money.”

Instead, almost all the battlers lost their hard-earned cash, for some their entire life savings.

“After we invested our money . . . He virtually vanished.” Pensioner

On Monday Four Corners reporter Caro Meldrum-Hanna goes in pursuit of the elusive businessman and the missing money people invested in his business, obtaining hundreds of internal company documents.

“It became more and more apparent that it was just a vehicle. . . to spend other people’s money.” Former employee

And we meet the company whistle-blower who says his complaints to Australia’s financial regulator fell on deaf ears.

“I blew the whistle. I raised the alarm, gave all the evidence through the proper channels and not even a phone call, email, nothing. I could have given them whatever they wanted. Not a peep from them.” Whistleblower.

Monday 29th August at 8.30pm on ABC.