Keith Johnson in Bahrain to provide evidence against alleged financier swindler Ahsan Ali Syed

Keith Johnson, one of NSW's largest property developers, has headed to Bahrain to assist authorities gain an insight into the alleged international swindler Ahsan Ali Syed, who Johnson claims fleeced him of $3.6 million. Johnson says the money was handed to Ali's company Western Gulf Advisory (WGA) to obtain a $155 million loan in 2010 that never eventuated.

Melbourne lawyer Andy Bryce, who represents more than 15 Australian clients who have lost more than $30 million, has accompanied Johnson to Bahrain to present affidavits from several Australian victims to the Bahrain Public Prosecutor.

A Malaysian fraud victim has also been invited to present evidence to the public prosecutor this week.

In a judgement handed down on October 9, 2011, the Bahrain Chamber for Dispute Resolution ordered WGA and Ali Syed to repay Johnson $3.627 million plus interest. WGA has appealed the decisions of the BCDR, and the appeal was heard on January 23, 2012.

In previous hearings Johnson secured a freezing order in May against the organisation in Bahrain, although it is understood there were not huge funds within the accounts.

From his offices in Bahrain, Switzerland and more recently The Netherlands, Ali– whose website is still actively seeking clients – reputedly orchestrated a scam where upfront fees were paid for loans that never eventuated.

Ali's company Western Gulf Advisory claimed it had money in its Swiss coffers that could assist Johnson’s stalled NSW residential development projects.

SMH reporter Kate McClymont wrote that over the past few years, dozens of Australian businessmen, thwarted in their attempts to refinance loans locally, had made the fateful pilgrimage to Ali’s office in Bahrain, buoyed by the promise of a financial lifeline.

They met a sophisticated scam whereby Ali, a former Hyderabad, India lawyer, pocketed each borrower's 1.6% establishment fee.

The operators of Queensland's financially troubled Cubbie Group, the country's biggest irrigator, paid about $3 million in fees to WGA, according to The Australian.

New Zealand businessman Gary McNabb of McNabb Property Group and the collectable coin firm New Zealand Mint is another victim but his success in freezing WGA's accounts in Switzerland caused international sporting headlines with WGA subsequently defaulting on the purchase of Spanish La Liga team Racing Santander. The McNabb funding was intended to finance a $30 million hotel development in Auckland and the stalled $20 million tourism venture Waihi Gold Discovery Centre.

Australian fertiliser importer Interfert and Megafert were also caught in the web.

The Indian entrepreneur also briefly backed the English football team Blackburn in until several financial irregularities were exposed by the BBC. Ali's lawyer says some of the BBC's allegations are false and misleading.

WGA has rejected the fraud accusation, and at one point on the home page of the corporate website, Ali strenuously denies the allegations against him.

"Western Gulf Advisory Asset and Wealth Management, Western Gulf Advisory, based in Zug, Switzerland, and their founder and president Mr Ahsan Ali Syed strongly refute allegations about their businesses being propagated by the fraudsters," the website advised last year.

Bryce told Fairfax Media that as a result of WGA's fraudulent activities his clients had suffered further losses of about $100 million, with three companies having gone into liquidation.

''It's an international fraud,'' Bryce advised.

''There are inquiries under way with Interpol and the NZ Serious Fraud Office,'' as well by Swiss authorities, he said.

Leading a team of financial analysts, legal consultants and investment experts, Ali pitched WGA’s credentials at reversing financial inabilities of many companies hit by the credit crunch.

“Starting with an investment capital of US$53,000, the company is today worth US$275 million – becoming one of the most progressive companies from the Kingdom of Bahrain,” his website advised.

His website CV notes WGA was founded in 2008, following in the footsteps of his family, who have over 150 years of history in private sector lending across Asia.

“Mr Ali has been self-employed since the age of 16 and closed his first significant deal worth $1.5 million at the age of 18.

“Mr Ali now plays a role in the management and the boards of over 133 companies worldwide.

“Mr Ali considers himself and his company to be experts in turnaround stories by converting non-performing assets into performing assets.

“Between 2003 and 2004 he bought a Canadian company for C$ 565.000 and transformed it into a valuable vehicle worth C$ 8 million within only 16 months.

“Mr Ali’s expertise and professionalism is highly recognised in the financial world, which is why he acts as a financial adviser to sovereign wealth, royalty, as well as many high net worth individuals.

“Mr Ali understands entrepreneurial needs and prides himself on being a reliable partner for all his clients,” the website says.

“One of the main reasons he started his own asset management company was because he believed in his own ability and qualifications to manage and invest his own wealth carefully.

“Mr Ali strongly believes that investments are not just about profit-making and capital preservation but also about selflessness and creating social welfare,” the website says.

“Mr Ali holds a bachelor degree in law as well as a master degree in finance from universities in India as well as abroad.”