Bridgecorp - the Hervey Bay Connection
When the property group Bridgecorp collapsed earlier this month it took a lot of small investors’ money with it and there seems little chance that most of those investors - many of them self-funded retirees - seeing any of the money again.
Yesterday the receiver indicated that the failed company was owed $18 million dollars by just one developer. Now it seems that developer provides the link between Bridgecorp and Hervey Bay for the Sydney Morning Herald has discovered the identity of that person.
They’ve named the developer who happens to be a well-known cricket identity and who, it seems, borrowed the money from Bridgecorp to fund the purchase of the land his company is currently selling as house and land packages just to the north of Hervey Bay.
You can read the full story on the Herald’s website here
