<a href="https://www.apartments.com.au/developments/collingwood-vic-3066">Collingwood</a>’s northern edge continues to sharpen its reputation as one of Melbourne’s most compelling cultural precincts, where established creative institutions, leading hospitality, and independent fashion converge within a tightly held inner-city neighbourhood.

Set within this evolving pocket, <a href="https://www.apartments.com.au/new-apartments/derby-street-by-milieu-collingwood-4-derby-street-collingwood-vic-3066">Derby Street by Milieu</a> draws on a location that balances proximity to some of the inner north’s most influential destinations with the quieter, tree-lined character that defines the streets edging East Melbourne. Positioned just moments from both Smith and Gertrude Streets, the address sits on the periphery of Collingwood’s cultural core, offering immediate access without the intensity of its busiest frontages.&nbsp;

[smartcode_project:default project_id=145576 project_image_fid=355945]

Gertrude Street, in particular, anchors the area’s identity as a destination for Melbourne’s leading food, art and fashion. Within a short walk, venues such as Marion, Cutler &amp; Co, IDES and the Builders Arms Hotel define a tightly curated dining scene with enduring citywide appeal, complemented by a strong fashion and retail presence including Havn, Le Labo and a selection of independent boutiques.

Nearby, institutions such as the Australian Print Workshop and Collingwood Yards sustain a constant rhythm of exhibitions, performances and creative output, embedding art and culture into the everyday fabric of the neighbourhood.

Smith Street, running parallel, extends this offering with a broader mix of hospitality and nightlife, maintaining its status as one of Melbourne’s most active inner-urban strips.

Beyond these high-energy streets, the immediate surrounds shift in tone. Derby Street and its neighbouring blocks are defined by low-rise heritage terraces, mature trees and a settled residential character. Fitzroy Gardens and Carlton Gardens are both within walking distance, alongside the Royal Exhibition Building and Melbourne Museum, bringing together green space and cultural landmarks within minutes of home.

[smartcode_project:default project_id=145576 project_image_fid=355985]

Connectivity remains a key advantage. The CBD sits within easy reach, accessible by tram along Smith Street in around 20 minutes, while also remaining close enough to walk or cycle, supported by the inner north’s established bike network.&nbsp;

<a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a>’s long-standing connection to Collingwood underpins the project’s approach. With a portfolio that includes multiple nearby developments across Bedford, Peel and Napier Streets, the developer brings a sustained understanding of the area’s character and evolution. Derby Street continues this trajectory as a collaboration with award-winning Melbourne-based <a href="https://www.apartments.com.au/architects/studio-bright">Studio Bright</a>, marking the practice’s first multi-residential project in the inner north and reflecting a shared focus on design integrity and contextual response.&nbsp;

Balancing connection to the neighbourhood with a sense of seclusion and refuge, Derby Street by Milieu embodies a level of care and craft typically reserved for single residential projects. Comprising 22 residences across six storeys, with two to four-bedroom configurations priced from $1.15 million, the project is currently under construction with completion expected in late 2027.&nbsp;

[smartcode_project_cta:default project_id=145576]

Joel Robinson

Derby Street by Milieu, at the top end of Collingwood

A rare new apartment development in the Blue Mountains is the latest in a string of State Significant Development Applications submitted through the New South Wales Government's Housing Delivery Authority.

A total of 270 apartments are being proposed for the 1.16-hectare site at <a href="https://www.apartments.com.au/new-apartments/blue-mountains-alpine-retreat-142-150-narrow-neck-road-katoomba-nsw-2780">142–150 Narrow Neck Road in Katoomba</a>, a parcel of land adjoining the former Katoomba Golf Course. The site was acquired for $3.85 million in 2021 by private developer VDM Prime.

The apartments, comprising a mix of serviced apartments, affordable housing, and traditional build-to-sell product, will be spread across eight low-rise buildings, along with a separate building for a new restaurant, arranged around a green spine that leads to a central park.

<img alt="Katoomba" data-entity-type="file" data-entity-uuid="ee9a2072-f465-44f1-9076-80c9c8ecca02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-22%20at%209.20.21%E2%80%AFAM.png?VersionId=4bT0vQ7j_syl65wcrJmHGm3m5pTvwrY_" />

The Urban Design Report by Atlas Urban says the vision is to create a "contemporary mountain precinct that is responsive to its escarpment landscape, heritage character, and community context."

"The development responds to the current housing supply and affordability challenges identified under the NSW Housing Delivery Authority (HDA), providing a balanced mix of standard, affordable, and short-stay accommodation," the report noted.

"By introducing a variety of dwelling types and tenures, the proposal supports intergenerational living, local workforce retention, and greater housing choice within an area constrained by topography, heritage, and environmental protections."

Of the 270 units proposed, 52 will be serviced apartments. The remainder will comprise 54 studios, 121 one-bedroom units, 39 two-bedroom apartments, and four three- to four-bedroom residences.

<img alt="Katoomba" data-entity-type="file" data-entity-uuid="f704508d-1bdf-4170-955d-0256652402a7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-22%20at%209.56.49%E2%80%AFAM.png?VersionId=TzarHMO4gTOsblCqsbJQkvMqWj9nu2Au" />

The Design Report, by VDM Prime and appointed architect Antoniades Architects, noted that the design seeks to "provide a built form outcome that is highly considered, respectful and contextually fitting, whilst contributing positively to an evolving precinct."

"The site offers three frontages and the opportunity to provide a meaningful interface with the public domain environment. the design has a sympathetic response to streetscape and the green open space that surrounds the site."

The report states that the buildings are broken up to establish an appropriate bulk and scale, emphasised through height and setback strategies and defined through articulation that supports the transition of precinct granularity. It also notes that a central communal open space is established through the site to enhance the social dynamic and access to amenity, including natural ventilation and light to the apartments. The east and west frontages receive solar access during the morning and afternoon, whilst maximising views to the green open space.

The site adjoins the recently completed Yarrabee Katoomba development, comprising 24 duplexes that were completed last year and sold through McGrath Projects.

The relatively new Housing Delivery Authority pathway established by the NSW Government allows developers to submit State Significant Development Applications through a fast-tracked state process, effectively reducing reliance on local council approval pathways and aiming to accelerate housing delivery across New South Wales.

First look: Nearly 300 apartments pitched on former Katoomba golf course site

In Melbourne’s established inner east, the qualities that define a traditional house, width, height, and access to open ground, are increasingly difficult to replicate in new residential developments. Larger landholdings are scarce, and with them, the ability to create apartments that extend beyond compact, internalised layouts.&nbsp;

In <a href="https://www.apartments.com.au/developments/kew-vic-3101">Kew</a>, where the residential fabric is shaped by generous setbacks and mature tree canopies, that tension is especially visible.

<a href="https://www.apartments.com.au/developers/ricdanic-investments-pty-ltd">Ricdanic</a>&nbsp;is bringing forward a boutique collection of just 13 residences across two buildings at 9–11 Wimba Avenue, Kew. Comprising six homes at No.9 and seven at No.11, the project sits on a quiet, tree-lined street just off Cotham Road.&nbsp;

Each apartment has been planned with a level of independence more commonly associated with standalone dwellings, balancing privacy with the efficiencies of apartment living.

Architect Chris Idle, who has been practising for over two decades, says projects like this don’t come along often.

“There are very few opportunities to do these kinds of developments in leafy, established suburbs,” he explains. “To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare.”

[smartcode_project:default project_id=140755 project_image_fid=366267]

The internal planning begins with width. Living areas extend beyond five metres, allowing furniture, circulation, and glazing to sit comfortably within the same zone without compression. Ceiling heights shift from three metres through to five metres in select areas, changing the sense of scale as you move through the apartment. These proportions are paired with double-glazed windows and fully electric systems, balancing volume with performance, supported by a 7.2 NatHERS energy rating.&nbsp;

From the main living space, the apartments open directly outward. Large sliding doors connect to private gardens averaging 125 square metres, with some residences also incorporating balconies of around 60 square metres. Rather than acting as secondary outdoor zones, these areas sit flush with the internal floor level, extending the usable footprint of the home and allowing for multiple modes of use, whether for quiet daily routines or larger gatherings.&nbsp;

The landscape, led by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>, reinforces this relationship. Across the site, 23 different plant species have been introduced, including a mix of native and established varieties, arranged to maintain privacy while preserving sightlines and light access. Gardens are not treated as decorative buffers but as functional extensions of the apartments, shaped to accommodate movement, seating, and informal use over time.&nbsp;

[smartcode_project:default project_id=140755 project_image_fid=366265]

Architecturally, the project draws from Kew’s historic residential language. Handmade bricks by Krause define the exterior, grounding the buildings within the material palette of the suburb, while interior finishes, stone, timber flooring, and restrained detailing, continue this approach internally. Architect Chris Idle describes the intent as long-term rather than stylistic: “We wanted it to feel timeless.”&nbsp;

This emphasis on durability extends to how the buildings are accessed and secured. Entry is managed through keyless systems, with a double-gated basement incorporating number plate recognition for vehicle access. Each residence is paired with a private lock-up garage accommodating two to three cars, alongside storage, while all entry points are monitored continuously. These measures sit alongside EV readiness and fully electric infrastructure, aligning the project’s operational systems with its long-term design outlook.&nbsp;

The setting remains central to how the development is experienced. Located within walking distance of Kew Junction and close to established schools including Carey Grammar and Xavier College, the address benefits from existing infrastructure while maintaining a residential quietness that is increasingly difficult to find at this scale.&nbsp;

Construction is being delivered by <a href="https://www.apartments.com.au/builders/sinjen">Sinjen</a>, with a 10-year structural guarantee, with completion targeted for mid-2027.

[smartcode_project_cta:default project_id=140755]

Inside Wimba Ave, Kew’s garden-scale residences designed for space and permanence

High-end Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a> has secured approval for one of its latest Mosman projects, one of the first developments approved by Mosman Council under the NSW Government’s Low and Mid-Rise Housing Policy.

The approval represents an important step in delivering well-considered housing next to established village locations on Sydney’s Lower North Shore, in line with the intent of the Low and Mid-Rise zoning framework. 
&nbsp; 
There are currently 13 other sites lodged within Mosman Council under the policy, with <a href="https://www.apartments.com.au/new-apartments/27-29-heydon-street-mosman-nsw-2088">Heydon Street</a> among the first to receive development consent. 
&nbsp; 
Abadeen Founder and Executive Chairman Justin Brown said the project reflects a considered and appropriate response to its planning context. 
&nbsp; 
“This approval demonstrates how carefully considered, design-led development can align with the objectives of the Low and Mid-Rise Housing Policy," Brown said.

"The scheme has been designed to respond sensitively to its village setting, with a built form, scale and level of amenity appropriate to its local context. The determination reflects a balanced and considered planning outcome, with Council recognising the capacity for this site to accommodate additional housing within a well-located and established precinct.”

<img alt="Abadeen secures first approval under low and mid-rise housing policy for Heydon Street, Mosman" data-entity-type="file" data-entity-uuid="92811ce3-02e8-44fc-996e-c61ae039bd3e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Heydon%20Street%20Aerial.jpg?VersionId=ZHJVuWQT64QcdrFJx963pFWFzTX7lI2I" />

The Heydon Street approval followed extensive consultation with Mosman Council, with Abadeen working closely with Council throughout the assessment process.

The approved scheme comprises 27 residences, with only four per floor, creating a low-density living environment. The building will include four half-floor penthouses designed to capture views across Middle Harbour, Sydney Harbour and the surrounding district.&nbsp;

The project is expected to appeal to downsizers and owner-occupiers seeking house-like proportions, privacy and local convenience. There will be north-facing Middle Harbour views from the second level upward. It is also just a flat 100-metre walk to Bridgepoint Shopping Centre, which will appeal to owner-occupiers and in particular downsizers.

Two-bedroom residences are expected to be priced from $1.99 million when sales launch later this year. 
&nbsp; 
Joe Tack, CEO at Abadeen, said the outcome reflects both the quality of the site and the broader need for well-located housing. 
&nbsp; 
“This is a highly considered site within a highly established local setting, offering elevated views and strong connectivity. The project has been designed to respond to that context, delivering a scale and quality of housing aligned with both the planning framework and evolving market demand.” 
&nbsp; 
“This approval is particularly significant in the context of Mosman, where new housing supply has historically been limited. While it represents the first approval of this scale in Mosman to be achieved in over 50 years, it is importantly located within a well-established residential location, in close proximity to the established commercial amenity of Spit Road and Mosman Village. It reflects strong confidence in Abadeen’s approach to design, delivery and community integration, while contributing to the delivery of much-needed housing in a highly constrained market.”

Abadeen has an established track record across Sydney’s Lower North Shore, with recent completions including KOYO in Crows Nest and ENSO in Neutral Bay.

In Mosman, Abadeen recently completed The Hampden, with Mosman Residences on the corner of Spit Road and Clifford Street scheduled for completion later this year. Construction has also commenced at Burran Residences, comprising three full-floor ultra-premium homes positioned just 50 metres from Balmoral Beach, with residences expected to achieve prices in excess of $20 million. Two further projects are also progressing through planning within the local government area.

Abadeen secures first approval under low and mid-rise housing policy for Heydon Street, Mosman apartment development

Apartment developer <a href="https://www.apartments.com.au/developers/martello">Martello™</a> is one of the latest entrants to the Gold Coast development market, with its debut project set to be one of the most boutique offerings on Chevron Island in recent years.

Martello has unveiled <a href="https://www.apartments.com.au/new-apartments/aere-chevron-island-18-20-mawarra-street-chevron-island-qld-4217">Aere Chevron Island</a>, a collection of 33 large-scale two-, three-, and four-bedroom apartments across an 18-storey building on Mawarra Street.

[smartcode_project:default project_id=143932 project_image_fid=367517]

The developer has placed a strong emphasis on wellness, briefing architecture firm Raunik Design to embed this philosophy into the project. It is a direction <a href="https://www.apartments.com.au/developers/martello">Martello™</a> plans to carry through its future developments along the coast.

<a href="https://www.apartments.com.au/developers/martello">Martello™</a> has positioned Aere as a continuation of its human-centric development approach, with a focus extending beyond amenity to the fundamentals of layout, natural light, and spatial planning. Promax Construction has already been appointed to deliver the project, with construction expected to commence in the coming months as part of the group’s broader expansion into South East Queensland.

Rising above the low-rise fabric of Chevron Island, Aere’s design emphasises generous internal proportions and uninterrupted outlooks, with residences oriented to capture coastal, skyline, and waterway views. Interiors prioritise open-plan living, with large-format glazing and carefully considered transitions between indoor and outdoor spaces.

[smartcode_project:default project_id=143932 project_image_fid=367508]

The upper levels are dedicated to larger-format homes, including four-bedroom residences designed as half-floor offerings. These layouts prioritise separation between living and sleeping zones, along with increased privacy and storage, features more commonly associated with detached housing than traditional apartment product.

Aere’s private resident amenity spaces centre on wellness. A rooftop level will incorporate a heated swimming pool, sauna and spa, alongside a residents’ lounge, dining areas and barbecue spaces, while additional shared facilities throughout the building include a gym and yoga area.

The inclusion of both social and quieter retreat spaces reflects a broader shift in higher-end apartment design on the Gold Coast, where developers are increasingly responding to owner-occupier demand for buildings that support long-term living rather than short-stay use.

[smartcode_project:default project_id=143932 project_image_fid=367814]

Aere is positioned within walking distance of Chevron Island’s village centre along Thomas Drive, as well as the HOTA cultural precinct via the Green Bridge, connecting residents to parklands, galleries, and event spaces.

For <a href="https://www.apartments.com.au/developers/martello">Martello™</a>, Aere represents the first in a series of planned Gold Coast developments, with the group also exploring opportunities in other coastal precincts, including Kirra and Palm Beach.

The move north comes as sustained population growth and infrastructure investment continue to reshape South East Queensland, with developers increasingly targeting boutique, design-led projects in established lifestyle pockets. Aere’s relatively small scale and emphasis on spatial quality position it within this emerging segment of the market.

[smartcode_project_cta:default project_id=143932]

Martello™ enters Gold Coast market with wellness-led Chevron Island development Aere

Financial Scam

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ASIC has commenced civil proceedings in the Federal Court over what the corporate regulator claims is an unregistered Perth based managed investment scheme providing unlicensed financial advice.

The scheme has raised over $11 million for property development purposes.

The proceedings are against Ms Monica Kaur, MKS Property Investments/Developments Pty Ltd (MKS Property), Paradise Property Group Pty Ltd (Paradise Property) as well as against Mr Sadu Singh, Mr Melvin Paul Singh and Ms Stephanie Lee.

“ASIC is concerned that Ms Kaur is providing unlicensed financial advice services and that she, together with the defendants, are involved in promoting and operating an unregistered managed investment scheme,” ASIC advised.

On 16 December 2020, ASIC obtained urgent interim orders:  

- restraining the defendants from removing their assets from Australia, disposing of their property, and freezing monies in their bank accounts including in Singapore; and

- preventing Ms Kaur, Mr Singh and Mr Melvin Singh from leaving Australia.

ASIC alleges the defendants raised at least $11.3 million from around 300 investors during the period March 2017 to September 2020 through MKS Property. 

It is alleged that investors were encouraged to establish a self-managed superannuation fund (SMSF) and invest part or all of their SMSFs or other funds into property investments and developments set up by MKS Property and/or Paradise Property. 

These funds would be pooled together to invest in property development.

“ASIC alleges the defendants used investor funds, at least in part, for their own personal use and to pay returns to investors,” it claims.

On 17 December 2020, ASIC, with the assistance of the AFP, executed search warrants.

The orders are to remain until February 15.

ASIC’s investigation is continuing.
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ASIC alleges the defendants raised at least $11.3 million from around 300 investors during the period March 2017 to September 2020 through MKS Property.

jchancellor

ASIC launch Federal Court proceedings over alleged unlicensed $11.3 million property development scheme

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Rental and accomodation scams have spiked over the COVID-19 hit 2020, with a 76 per cent increase representing over $300,000 scammed so far this year.
According to Scamwatch, there have been 560 reports of rental scams in 2020, which itself is an increase of 56 per cent.
They suggest that many are using tactics related to COVID-19.
These scams target people seeking new rental accommodation by offering fake rental properties to convince people into handing over money or personal information.
“Scammers are offering reduced rents due to COVID-19 and using the government restrictions to trick people into transferring money without inspecting the property,” ACCC deputy commissioner Delia Rickard said.
The ACCC say that the scammer will post advertisements on real estate or classified websites or target people who have posted on social media that they are looking for a room.
After the victim responds, the scammer will request an upfront deposit to secure the property or phish for personal information through a ‘tenant application form’, promising to provide the keys after the payment or information is provided.
The scammer may come up with excuses for further payments and the victim often only realises they have been scammed when the keys don’t arrive and the scammer cuts off contact.
Some scammers will even impersonate real estate agents and organise fake inspections, victims will then arrive to discover the property doesn’t exist or is currently occupied.
“The loss of personal information through rental scams is becoming more common, with scammers requesting copies of identity documents such as passports, bank statements or payslips,” Ms Rickard said.
“Once a scammer has your personal information you are at risk of being targeted by further scams or identity theft.”
“Many people are also experiencing financial difficulties due to the pandemic and the financial impact of falling victim to a scam can be devastating,” Ms Rickard said.
People aged 25-34 reported the most rental scams so far in 2020, and the most reports came from NSW, VIC and the ACT.
“Try to view a property in person before paying any bond or rent money to landlords or real estate agents,” Ms Rickard said.  
“In areas of Victoria under COVID-19 level 4 restrictions this is not possible, but you can help protect yourself by doing an online search to confirm the property exists and, if dealing with an agent, checking that the agent you are dealing with is licensed.”
“Scammers often rely on email communications to avoid identification, do an independent search for a phone number and speak to the property manager over the phone or arrange a meeting in person,” Ms Rickard said.  
“Before making any payments ensure you are dealing with the licensed agent, if a scammer has your details they may impersonate a real estate agent and attempt to ‘follow-up’ requesting money after an inspection.”
 
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jrobinson-rf4aSBido9

Rental and accomodation scams prey $300,000 from Aussies

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Former financial adviser, Gabriel Nakhl, has been sentenced to 10 years imprisonment for engaging in dishonest conduct
He was convicted on eight charges (<a href="https://asic.gov.au/about-asic/news-centre/find-a-media-release/2018-releases/18-178mr-former-financial-adviser-convicted-for-dishonest-conduct/" target="_blank">18-178MR</a>), brought by ASIC, of engaging in dishonest conduct with investor funds, after being found guilty in the District Court of New South Wales.
According to ASIC, the conduct affected 12 investors while Mr Nakhl was a representative of Australian Financial Services Limited (in liquidation) and as sole director of SydFA Pty Ltd (deregistered).
The court found Mr Nakhl advised clients to set up self-managed superannuation funds and to invest their superannuation and other funds in products such as shares, managed funds and high interest rate bank accounts.
Rather than investing the 12 investors’ funds in these products, Mr Nakhl used these funds 'as he pleased' and for his own purposes.
Mr Nakhl then lied to the investors, telling them that he had invested their funds in accordance with his advice and that their investments were performing well.
Mr Nakhl also tried to cover up his wrongdoing by having these 12 investors sign documents that supposedly authorised Mr Nakhl to use the funds in the way he did.
These 12 investors allowed Mr Nakhl to invest approximately $6.7 million on their behalf. Mr Nakhl lost approximately $5.1 million of these invested funds.
'Mr Nakhl deliberately misled his clients and used their savings as he pleased. Clients should be able to trust their financial advisers. In this case, Mr Nakhl dishonestly and deliberately breached his clients’ trust. ASIC welcomes the sentencing decision handed down today,' said ASIC Commissioner Sean Hughes.
ASIC obtained orders against Mr Nakhl in February 2013, freezing his assets (<a href="https://asic.gov.au/about-asic/news-centre/find-a-media-release/2013-releases/13-023mr-asic-obtains-court-orders-against-sydney-financial-adviser/" target="_blank">13-023MR</a>). In April 2013, the amounts frozen in interim orders against Mr Nakhl were approximately $7.7 million.
In November 2013, Mr Nakhl was permanently prevented from providing financial services. He is also not allowed to manage a company until 2028 (<a href="https://asic.gov.au/about-asic/news-centre/find-a-media-release/2013-releases/13-313mr-sydney-adviser-removed-from-financial-services/" target="_blank">13-313MR</a>).  
 
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j.ballantyne1990-6AQqhLzZaK

Former financial adviser Gabriel Nakhl sentenced to 10 years in jail: ASIC

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A waterfront property in Sanctuary Cove in the Gold Coast belonging to failed Indian group Pearls, which was involved in a $10 billion Ponzi scheme, has been on the market for more than a year a deal for more than $4 million fell through. 
The 1019-20 Edgecliff Drive house was bought for $4.95 million in 2011, a year after Pearls picked up the Sheraton Mirage Hotel on the Southport Spit for $62.5 million.
The Sheraton was sold in January for $140 million and last year Pearls’ major Australian vehicle, which had been renamed the Mii group, exited its interest in a beachfront Surfers Paradise site, the Gold Coast Bulletin reported.
Last year, a caveat by the Queensland government temporarily blocked the sale of the Gold Coast Sheraton Mirage resort to help class action lawyers seeking to take control of it in the interests of Indian investors.
In 2009, before its collapse, India’s $10 billion failed Pearls Ponzi scheme brought more than $100 million of the scheme’s money to Australia, buying the Sheraton Mirage.
Pearls was spruiked in India by Australian cricketer Brett Lee, who was paid $300,000 for his services. It promised investors huge ­returns if they invested in land parcels across India.
It appears the net proceeds of the Pearls sales, including those from the Sanctuary Cove house, ultimately will end up with the Indian government for disbursement to investors caught up in the Ponzi scheme.
India’s financial markets watchdog, the Securities and Exchange Board of India, has been handling the selloff of Pearls assets, which in India have included a swag of properties and 79 luxury cars.
Last May, the fully-furnished Sanctuary Cove house didn’t sell at auction. It drew an unsuccessful top bid of $4.6 million.
Later, a $5.5 million tag was put on the house.
The agents marketing the home are tight-lipped but word is that multiple offers have followed from buyers wanting to tap into a rising Sanctuary Cove market but those offers haven’t found favour with SEBI.
The house is owned by Pearls Infrastructure Projects.
The five-bedroom house, bought for $3.7 million, has a lift, parking for six cars, and a jetty.
Pearls Infrastructure later increased the size of the land-holding to 1,700 sqm by spending $1.25 million on an adjoining lot and created a waterfront entertaining area, complete with marquee.
The Gold Coast Bulletin reported among the Pearls-related parties known to have used the Cove house included Barinda Kaur, daughter of Pearls founder Nirmal Singh Bhangoo.
Four years ago Barinda was involved in a legal wrangle after a company she owned failed to settle the $7 million purchase of the 64 Ferny Avenue office tower in Surfers Paradise.
The building subsequently sold to Chinese investors for $6.187 million.
Barinda’s father is facing charges over the Pearls collapse and was languishing in an Indian jail until he was transferred last year to a hospital.
He allegedly duped more than five million investors when the Pearls group promised them agricultural plots and healthy returns on their funds.
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Indian ponzi group Pearls' Gold Coast waterfront house waits for buyer

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A Gold Coast developer, who also runs a strip club in Hobart, has been arrested in connection with an alleged Ponzi scam.
Bradley Keith Silver of Hobart has been charged with fraud offences totalling $2.32 million following an investigation by market watchdog, the Australian Securities and Investment Commission.
Silver was arrested by the Australian Federal Police on July 20 and brought before the Brisbane Magistrates Court the same day. 
The ASIC has charged Silver with seven counts of fraud under s408C of the Queensland Criminal Code, which carry a maximum prison term of 12 years and six counts of dishonest use of his position as a director under s184 of the Corporations Act (maximum sentence of imprisonment of five years).
Silver was released on conditional bail to appear in the Brisbane Magistrates Court on 25 August, the ASIC said in a media release. His bail conditions include that he surrender his passport. 
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
Between 2008 and 2010, Silver was the director of a Gold Coast property development company known as Capital Growth International Club Pty Ltd (CGIC) and associated with a company known as All About Property Developments Pty Ltd (AAPD). 
In February 2011, the companies were placed into liquidation owing investors about $9 million, the ASIC said.
The company, where unconventional “low-doc” loans were allegedly offered to clients as old as 98, was the subject of a Senate economics committee’s inquiry into bank practices in 2012 involving Westpac’s former Pacific Fair home lending manager David St Pierre.
The customers were promised "safe" returns of up to 20 per cent a year to invest in CGIC.
Silver also operates Hobart’s Men’s Galley and Launceston’s Show Girls, according to The Mercury. 
 
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jonathanchancellor-7SQnKwU6yx

Developer charged with alleged Gold Coast ponzi scam

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Nearly $30 million was paid to 1,347 customers who suffered losses after they were misled by financial advisers, while the securities watchdog banned 26 advisers for misconduct as of December 2016. 
These are the findings from a review by the Australian Securities and Investment Commission of how Australia's largest financial advice firms have dealt with past poor advice and non­-compliant advisers, including how these firms have dealt with affected customers. 
The review, which forms part of ASIC’s broader Wealth Management Project, was focussed on the conduct of the financial advice arms of AMP, ANZ, CBA, NAB and Westpac.
ASIC deputy chairman Peter Kell said the report, “sets out the significant work that has been done by the major financial advice institutions to implement large­-scale review and remediation programs to identify and remediate customers impacted by poor advice given in the past”. 
The review looked at: 
<ul>
<li>how the firms identified and dealt with non­compliant conduct by their advisers between 1 January 2009 and 30 June 2015</li>
<li>the development and implementation by the firms of large­-scale review and remediation frameworks to remediate customers impacted by non­compliant advice, and </li>
<li>the processes used to monitor and supervise the firms' advisers, focussing on background and reference ­checking, the adviser audit process and use of data analytics. </li>
</ul>
ASIC Report 515 Financial advice: Review of how large institutions oversee their advisers (REP 515) covers the key findings of this review.
He said that while financial advice institutions had done much to improve their practices and compliance, more work was needed to re­build consumer trust in the financial advice industry.
ASIC has identified a number of areas of concern where further improvements need to be made, including: 
<ul>
<li>failure to notify ASIC about serious non­compliance concerns regarding adviser conduct</li>
<li>significant delays between the institution first becoming aware of the misconduct and reporting it to ASIC</li>
<li>inadequate background and reference-­checking processes, and</li>
<li>inadequate audit processes to assess whether the advice complied with the 'best interest' duty and other obligations. </li>
</ul>
“It is critical that customers are able to get financial advice they can trust. ASIC expects internal processes to support core values of putting the customer first and where there are failings, for advice firms to act quickly to provide a response in the interests of their customers. This is a message for both large and small advice firms,” Kell said. 
“Strengthening breach reporting requirements will be an important issue in the current review of ASIC's enforcement powers announced by Government in October 2016,” he said. 
The Australian Bankers' Association's recently announced a Reference Checking and Information Sharing Protocol, that takes a more rigorous approach to checking and provision of adviser references. Financial institutions regularly use data analytics now to detect irregularities early and take action.
 
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ASIC says $30 million paid to customers misled by wrong advice in its review of financial institutions

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A woman whose Canberra house was stolen by overseas scammers has sued the ACT government to recoup her money.
The international fraudsters pocketed $430,000 when they sold the four-bedroom Canberra house in 2014 in a sophisticated scam spanning several months and countries, including South Africa, Australia and Indonesia.
The owner lived in South Africa at the time. 
The ACT Supreme Court has been told the thieves went to elaborate lengths to steal the MacGregor home, conning real estate agents, lawyers and a bank.
The fraudsters are yet to be caught two years after the fraud came to light after its 2014 sale.
"I have never given instructions to anyone to sell the property on my behalf. I never had any intention of selling the property as I wanted to keep it for as long as I could and then pass it on to my children," the victim said in an affidavit obtained by Fairfax Media.
The fraud stripped the victim of any right to the property, which was legally transferred to the innocent purchaser couple.
Registered real estate purchases made in good faith are protected by the ACT Land Titles Act.
The woman is now suing the ACT government for statutory compensation, seeking damages for the property value, stamp duty and legal costs along with lost rental income.
The government disagrees that she is entitled to recover damages from the government.
"The plaintiff has a remedy against the fraudster under section 154 of the Act and must first take action against him or her before she may take action against the defendant," the government said in its submission.
Associate Judge David Mossop has reserved his decision.
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International scam victim sues ACT Government after home sale

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Consumer regulators across Australia are launching a national video campaign against spruikers, who run get-rich-quick seminars.
<a href="https://www.youtube.com/v/srb0wYnyyWI" target="_blank">The national campaign</a>, has been promoted by the likes of Consumer Protection WA.
Its director of property industries Stephen Meahger said spruikers must comply with Australian consumer law.
"We always are concerned in any spruiking when you see a big, glossy ad or a full page ad in the paper that says that it's a free seminar," Mr Meahger told the ABC.
WA spruikers often teach their students how to set up rent-to-buy housing deals, which offers people who do not have a home deposit the option of purchasing a home after paying above-market rent for a set period of time.
Miles Larbey from the Australian Securities and Investments Commission (ASIC) said unscrupulous operators had been put on notice.
"ASIC assesses every report of misconduct it receives about such operators and there are serious consequences for property spruikers who break the law by providing unlicensed financial or credit advice," he said.
"ASIC strongly supports the campaign warning investors about property spruikers."
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