The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Fraud

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The Gold Coast millionaire businessman and property developer Michael Issakidis has been sentenced to a decade in jail for his involvement in a $135 million tax evasion case, the largest ever successfully prosecuted in Australia.
Issakidis and his co-conspirator, former Ernst &amp; Young executive Anthony Dickson, used a web of companies to evade corporate tax.
The Supreme Court of NSW handed Issakidis the jail sentence, including a non-parole period of seven years and six months, on Thursday.
The frail 73-year-old faced a sentence hearing in the NSW Supreme Court after a jury found him guilty in June last year. There had been four trials.
The Federal Revenue Minister Kelly O'Dwyer said it was the "largest and one of the most complex investigations into tax fraud in Australia's history".
Issakidis had been allowed to return to his Sovereign Island mansion after posting bail of $1.5 million in 2016.
But the authorities held on to more than $40 million in assets including his prestige vehicle collection of several Rolls-Royces, a Lamborghini and an Aston Martin along with two yachts, which were seized during the Australian Federal Police raid (pictured above and below).
Issakidis was arrested at his waterfront mansion and charged with conspiracy to deal in the proceeds of crime and conspiracy to dishonestly cause a loss to the Australian Taxation Office.
The Federal Police allege Issakidis committed tax fraud through his medical company Neumedix and funnelled company funds through offshore accounts.
He initially faced Southport Magistrates Court, where he was refused bail and extradited to Sydney. He’d then been granted bail on the condition he live at his Paradise Point home.
The Australian Federal Police and Australian Tax Office said the arrest was after a seven-month investigation under Project Wickenby, the federal government's pursuit of wealthy alleged tax evaders.
The website of NeuMedix said Michael Issakidis was the commercial connoisseur for NeuMedix.
“A consummate statesman and pragmatist, Michael's legal background coupled with many years of property development provides a tempered prudence when assessing opportunities.”
After their move from Sydney, his wife, the Gold Coast socialite Donrika, once starred in a memorable 60 Minutes segment on the A-List on the Gold Coast in the 1990s. With a downwards sweep of her hand, she indicated she was dressed in "Chanel, Chanel, Chanel."
Issakidis and his wife were unconscious in their car after he failed to turn up to court to be sentenced last October. They were discovered after 22 hours by his brother, Con.
Crown prosecutor Michel McHugh SC noted in court, referring to a psychiatric report, that Issakidis said he was not depressed and that when the couple attempted suicide "we were just two people who wanted to be together".
It's expected he'll apply to be transferred to a Queensland prison on welfare grounds.
The businessman's barrister, Mike Smith, noted that Dickson had been found to be "the predominant player and motivating force behind the conspiracy.
<div class="cq-article-content-paras section">
Dickson was in 2015 sentenced to 11 years' jail, which was later increased to 14 years on appeal. His sentence was the longest ever handed down for tax fraud and money-laundering.
The pair created a web of false identities to aid their deception and siphoned money through the UK, Hong Kong and the UAE via fake domestic and international companies. They deliberately absorbed $450 million of otherwise assessable income through falsely created losses in order to evade $135 million. They profited to the tune of $63 million, spending the money on lavish lifestyles.
The complexity of the offshore companies involved and the fact they were based in secrecy jurisdictions such as the Cayman Islands made the investigation difficult, but sources described the AFP officers involved as "relentless" in the pursuit of both Dickson and Issakidis.
At the centre of the scam was Neumedix Health Australasia Pty Ltd. Issakidis and Dickson caused Neumedix to fake losses on the acquisition of medical technologies. They then used those losses to avoid tax on income generated on the ownership of units in a number of trusts.
</div>
<div class="cq-article-content-media section">"These trusts generated very large taxable profits from their participation in certain financing transactions that were arranged between the offender, ANZ and some of its clients," according to court documents obtained by the Australian Financial Review.</div>
 
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Gold Coast property developer Michael Issakidis jailed for tax evasion

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A former real estate agent who misappropriated more than $6 million from clients to fund his lavish lifestyle has asked a Melbourne judge to spare him from prison.
But Tri Duc Ngo, also known as Joseph Ngo, who has pleaded guilty to misusing $6.49 million from trust account funds of 46 clients linked to six LJ Hooker offices in Melbourne, was advised he should serve some time in jail for his crime.
Ngo co-operated six LJ Hooke branches at Glen Waverley, Box Hill, Burwood, Doncaster, Keysborough and Mount Waverley.
County Court Judge Michael Bourke said Ngo, who was reported to suffer psychosis and a schizoaffective disorder, should serve some time in jail.
He spent some of the money on drugs such as ice.
The court heard at a plea hearing in November that Mr Ngo had splashed stolen cash at high-end jewellery stores including Swarovski and Tiffany &amp; Co.
Six LJ Hooker offices in Melbourne's outer east were closed when Consumer Affairs Victoria was alerted.
Defence lawyer Erol Cinar said the father-of-four should be spared jail because his four-year-old had not yet made lasting memories of his father.
He also argued Ngo was active in his church community.
The court was advised the remorseful Ngo had no intention to return to real estate.
Judge Michael Bourke released Ngo on bail for one day to collect his medications, with plans to remand him in custody on Tuesday before sentencing at a later date.
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The judge declared a lesser punishment would be “disproportionate.”
</div>
"The offending occurred over a protracted period between January 2015 and March 2016," crown prosecutor Robyn Harper.
"The offending occurred over a protracted period between January 2015 and March 2016," she said.
"The scale is massive ... (and) there's been no evidence he's repaid the money."
 
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LJ Hooker fraud estate agent set for prison despite plea 

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The ASX share scrip of the valuation company LandMark White has been the victim of fraudulent sales activity.
The company happened across the fraud when 36,000 shares were advised as sold by the company's CEO Brad Piltz.
Greg White, the company chairman, quickly told the ASX the $21,000 sale of the shares was not what it seemed.
An unknown fraudster instructed the brokerage for the sale of Piltz's shares and into a new bank account.
When the sale and fraud was detected, the company broker immediately bought 36,000 shares to offset the sale.
Piltz's shareholding had been on the increase with $200,000 in shares bought in November and December and a further $42,000 this year.
Last year the Gandel family emerged as a substantial shareholder in LandMark White.
In May LandMark White bought MVS National for $16 million.
LMW has around $60 million in gross annual revenues.
It recently has been hit with at least eight valuers leaving including three directors.
It lost several valuers to rival Charter Keck Cramer which has established a Brisbane office.
Led by director Andrew Binney, they include director Michael McClifty and residential development valuer and director Shaun Golden, trade press suggested.
 
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jonathanchancellor-7SQnKwU6yx

LandMark White declare fraudulent activity with its ASX share sale

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Two South Australian property buyers have been defrauded out of $900,000 by scammers using bogus email details to pose as their conveyancers.
The Australian Institute of Conveyancers has referred it to the police.
The institute's South Australian CEO Rebecca Hayes said the scammers sent fake emails to conveyancers' clients last month with instructions on where to send large sums of money for their property settlements.
The cyber scammers intercepted regular emails to changing the bank account details.
"The client then pays money into what they believe is the conveyancer's trust account but unfortunately it's an account owned and operated by the cyber criminal and the money goes there and unfortunately disappears," Ms Hayes said.
Property buyers should verify trust account information before transferring money, and said the scam had claimed other victims interstate.
The scam has occurred previously in Western Australian earlier this year when a father and son buying a property south of Perth uncovered an email scam that could have cost them $200,000.
However, they noticed the email address was slightly different to their agency's and checked before confirming the request was fake.
But an elderly woman has been robbed of more than half a million dollars after scammers pretended to be her settlement agent and convinced her son to transfer cash into a bogus account.
The 83-year-old woman was one of six people targeted by similar cyber attacks in two months.
An email asked for $558,000 as the final payment for the property to be transferred into an account.
By the time the son realised it was fake, it was too late.
In August two clients of another western suburbs settlement agency lost $25,658 after emails were intercepted, and three payments towards property purchases were sent to scam bank accounts.
Rebecca Hayes said efforts were being made to recover the money but the SA scam could potentially cause a property settlement contract to become void if the funds could not be met within the settlement period.
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Settlement conveyancing con by scammers triggers warning to property sellers

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The founder of RAMS Home Loans, John Kinghorn, 76, has been charged with fraud offences after allegedly avoiding taxes worth more than $30 million.
Kinghorn did not enter a plea as he faced Sydney's Downing Centre Court this morning.
The Australian Federal Police (AFP) alleges he fraudulently concealed his beneficial ownership of two companies from the tax office between 2004 and 2007.
He has been charged with dishonestly influencing a Commonwealth public official and defrauding the Commonwealth, after an eight-year investigation.
The maximum penalty for the offences is 10 years' imprisonment.
Court documents show the two companies are Kalomo Pacific leasing and Kalomo Corporation limited, the ABC noted.
The AFR says the charges of fraudulently concealing beneficial ownership and tax evasion against John Kinghorn relate to the sale of RAMS Home Loans in 2007.
The AFP commenced its investigation in June 2009, which the AFR noted was  two years after Kinghorn floated RAMS for $650 million. 
On Friday, 6 October 2017, AFP officers served him a Court Attendance Notice regarding Commonwealth fraud offences.
AFP Assistant Commissioner Neil Gaughan, National Manager Organised Crime and Cyber, said the investigation required extensive cooperation within the Serious Financial Crime Taskforce and with international agencies.
“I’d like to commend the officers involved in this complex and lengthy investigation for their persistence and dedication to ensuring the integrity of Australia’s financial frameworks,” Assistant Commissioner Gaughan said.
“Serious financial crime poses a threat to Australia’s economy, financial markets, regulatory frameworks, superannuation and tax system.
“Commonwealth fraud offences have a significant impact on the Australian public – every dollar represents funds that could have been put to use for the benefit of the whole community.
“This result should serve as a warning that we will use every capability at our disposal to bring allegations of fraud before court.”
The Serious Financial Crime Taskforce is a multi-agency effort targeting serious financial crime in Australia. The taskforce sits within the AFP-led Fraud and Anti-Corruption Centre. Offences targeted by the taskforce relate to serious fraud, money laundering and defrauding the Commonwealth.
Since the Serious Financial Crime Taskforce was established in July 2015, more than 614 audits have been completed and $408 million tax liabilities have been raised. Four people have received custodial sentences following prosecution. There are currently 26 criminal, civil and intelligence matters in progress.
Fairfax Media noted today that news that Kinghorn was facing investigation by the AFP was revealed in a 2014 book on Eddie Obeid by Linton Besser and The Sydney Morning Herald journalist Kate McClymont.
It noted that secret phone taps of Kinghorn and others about a Obeid coal mine were supplied to ICAC by the AFP which was conducting its tax-related inquiry.
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RAMS Home Loans founder John Kinghorn charged by AFP with fraud

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A mortgage broker at a Melbourne-based finance broking company has been sentenced to five years jail after pleading guilty to conspiring to defraud financial institutions.
The broker, Najam Shah, was charged during an ASIC investigation into Footscray-based finance broking company Myra Home Loans, which traded as Myra Financial Services (Myra).
The charge relates to Shah's role at Myra and the creation and use of false documents to support loan applications valued at nearly $170 million.
Shah's charge relates to conspiring with others to defraud financial institutions through the provision of false documents in support of loan applications submitted on behalf of Myra clients between about March 2008 and August 2010, the Australian Broker noted.
The fraud relates to submitting false documents for more than 500 loan applications valued at approximately $170 million to banks and financial institutions, including the Commonwealth Bank, Westpac, St George Bank, Bankwest, Adelaide Bank, Bank of Queensland, Choice Home Loans, Citibank, NAB, Pepper Homeloans and Suncorp Bank.
The documents included bank statements, payslips, citizenship certificates and statutory declarations. 
Shah pleaded guilty to one charge of conspiring to defraud financial institutions. He must serve three years and three months before being eligible for parole.
On 13 February 2017, Shah entered the guilty plea during an appearance at the County Court of Victoria. 
Shah’s plea followed his arrest and charge in January 2015. 
In sentencing Shah, Judge Gucciardo noted that mortgage fraud of this nature damages the integrity of the lending system and that Shah's well organised deception enabled such corruption. He further noted that Shah was motivated by greed.
"ASIC will continue to ensure that mortgage brokers who provide false documentation are held to account. Today's sentencing reflects both the severity of Mr Shah's actions and the consequences facing those who do not abide by the law,” ASIC deputy chair Peter Kell said.
The matter was prosecuted by the Commonwealth Director of Public Prosecutions.
The ASIC's probe is still on.
 
 
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Mortgage broker jailed for $170 million fraud

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Newport, Sydney real estate agent Michael Raoul Edwards has been sentenced to three years jail for trust fund fraud.
It is the longest term given for the crime in NSW.
He was sentenced in Downing Centre Local Court on Wednesday to three years in jail with a non-parole period of two years.
Edwards, a former director of real estate agency Pittwater Property Management, Barrenjoey Road, Newport, had pleaded guilty to misappropriating about $400,000 in trust funds.
He ran the business for a decade.
Under the Property, Stock &amp; Business Agents Act 2002, real estate licensees must hold clients' funds in a trust account.
NSW Fair Trading's investigations started in 2013.
He has also been disqualification as a director under the act for eight years.
"Dodgy agents are on notice - I'm putting consumers first," Minister for Better Regulation Matt Kean said.
NSW Fair Trading said no trust fund records were found at Pittwater Property Management, trading as Edwards &amp; Orr, but through the reconstruction of the company's business and co-operation from former clients, they established the fraud.
According to his live LinkedIn account, Edwards was an agent with LJ Hooker for eight years from 1996.
He recently founded a real estate agency community online platform called<a href="https://localagentsites.com.au/" target="_blank"> Local Agent Sites</a> last month.
His application for bail was denied with his appeal will be be heard later this year.
The next biggest jail term for trust fund fraud in NSW after Edwards' sentence was a two year jail term for a Pyrmont agent who defrauded more than $800,000 last year, according to NSW Fair Trading.
The next highest was when former agents Phillip Chau, Roger and Gordana Ocvirk and Mark Kolodynski were jailed for 18 month terms after frauds of between $330,000 to $1.4 million.
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Newport agent Michael Edwards gets longest trust fund fraud sentence

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A former broker has been handed an eight year, nine-month sentence for a $1.9 million fraud related to his company Adelaide Lending Centre.
The district court judge who handed down the sentence to former broker Michael Samra has described the $1.9 million case as “a consistent and persistent demonstration of fraud” through actions that were “premeditated, deliberate and repetitive”.
In the final ruling, Her Honour Judge Geraldine Davison described the circumstances which led to Samra pleading guilty to six counts of deception, according to the Mortgage Broker.
Samra’s broking business, Adelaide Lending Centre (ALC Group), was formed on July 13, 1999 at which time Samra was co-director and shareholder along with his wife. He became the sole director on 19 May 2009.
ALC Group was placed into voluntary liquidation on August 6, 2009 after a letter of demand. The liquidation was completed on August 19, 2015.
Meanwhile, Samra himself became bankrupt on 3 March 2010 and was discharged from bankruptcy on 30 October 2013.
Samra's modus operandi included getting a number of individuals to invest funds which would then be lent to clients in the building industry with promises of high interest rates (30% for 30 days). However, Judge Davison gave several examples of how these funds did not make it to either builders or developers and were instead paid to other investors dealing with the firm.
The fact that funds were immediately sent out to various investors meant that Samra was effectively “robbing Peter to pay Paul”, she said.
“There is ongoing litigation by some creditors to recover moneys lost in their investments with the ALC Group. The total amount of money invested with the group by the investors who are the subject of the charges totals just over $1.9 million,” the judge said.
“Contrary to the representations that had been made by you in January 2009, the amount of $150,000 and the amounts of $50,000 and $70,000 were not lent to builders or developers but instead were paid to other investors in the ALC Group,” she said of one case.
ASIC began investigating the ALC Group in September 2009.
“ASIC investigated the collapse of your group and conducted a reconstruction in relation to the invested deposits through your group for the period from 1 January to 31 July 2009. That reconstruction shows that in that period there were deposits into your bank account totalling over $66m. Investor deposits totalled $58m and there were further miscellaneous deposits of over $7m,” the judge said. 
ASIC found that payments from Samra’s bank account totalled over $67 million with payments from investors equalling $64 million.
In determining the sentence, Davison considered the impact of these actions on investors with ALC Group.
“These people have been generally hardworking individuals who have been striving to do their best to provide for their families and their own retirements,” she said. 
“Each of them has been significantly financially disadvantaged by your behaviour. Beyond that, of course, they have the devastation and stress that comes from financial difficulties and the effect of having so badly judged the situation as they see it.” 
“You knew that you had this significant financial difficulty that was unlikely to be resolved when you sought and obtained the funds that were used to prop up the business, knowing at the time when you obtained them that there was little, perhaps no prospect that they would be repaid.” 
Davison did acknowledge Samra’s personal circumstances, noting that he had no ability to make reparations for his actions. She also recognised the stress Samra would have been under while trying to keep his business afloat. This led to two suicide attempts, hospitalisation and psychiatric treatment in July 2009.
“However, these factors, whilst they would have impaired your judgment significantly, do not mean that you were unaware of the nature and quality of your actions,” she said.
In deciding the sentence, Davison took into account a range of factors, including Samra’s apology and his previous good character, as well as the amount of money involved, a belated guilty plea, and a lack of any reparations made.
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Former mortgage broker handed jail term for $1.9 million fraud

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Businessman Michael King, who was recently penalised by Queensland’s top court for what happened to his investors, says he will contest the ruling all the way to the highest court.
The former MFS chief executive has been ordered to pay $177 million in compensation to investors.
In spite of the court’s ruling, King has a job with Hong Kong billionaire Tony Fung retaining him to advise on his property plans, The Australian Financial Review reported.
The Supreme Court of Queensland last week disqualified former officers and the funds manager of MFS Investment Management Limited (MFSIM) from managing corporations for, ranging from a permanent ban down to five years, and imposed total penalties ranging from $90,000 to $650,000.
The court found Michael King along with Craig Robert White, David Mark Anderson, Guy Hutchings and Marilyn Anne Watts to have breached the Corporations Act.
The breaches were committed in relation to their involvement in the misappropriation of $147.5 million of funds that had been held by the managed investment scheme known as the Premium Income Fund (PIF) on behalf of unitholders. The misappropriated funds were used to pay debts owed by other related entities in the MFS Group (which was subsequently known as Octaviar). The MFS Group collapsed in 2008 owing $2.5 billion.
But King was defiant. “This has a very long way to run," King was quoted as saying by the AFR. "I will take this to the highest court in the country."
About his role with Fung,  King said he was “doing advisory work… when and where I am able to, and when I can add value to the process”.
King has helped Fung buy about $100 million in property mainly on the Gold Coast, including the former MFS-owned properties that were sold to Nathan Tinkler, which became part of Patinack Farms.
An Aquis spokesman defended Fung's selection of King. 
"Fung will use who he wants when he wants as advisers," the spokesman said.
Fung, who also owns the Canberra Casino, joined Chinese developer Tandellen and CCCC International Holding to buy a development site at Surfers Paradise last year for $40 million.
He signed a contract to buy the 11,800 sqm, currently owned by Orix, with King's help.
MFS Ltd was a publicly listed company with interests in financial services, travel and leisure and childcare businesses that was based on the Gold Coast.
The listed company quickly rose to become one of Queensland’s largest corporate giants before its collapse. 
Corporate watchdog Australian Securities and Investments Commission launched proceedings against the former MFS company officeholders and a funds manager in 2009.
In late 2009, the securities watchdog started its civil penalty proceeding against MFSM and the four former officers and a funds manager.
The Supreme Court of Queensland held last year that the four former executives and the funds manager of MFSIM had acted dishonestly in their roles.
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Former MFS boss Michael King to contest court order of $177 million compensation  

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Two former LJ Hooker Glen Waverley real estate agents charged with misappropriating funds from a trust helped themselves to $4 million but have repaid some of it, a court has heard.
Tri Duc (Joseph) Ngo and Truc Thanh (Judy) Nguyen are charged with misappropriating funds, after the final loss was calculated at $2.1 million, Fairfax media reported.
JNT operated businesses including LJ Hooker branches in Keysborough, Mount Waverley, Glen Waverley, Burwood, Doncaster and Box Hill.
Joseph Ngo has indicated he will plead guilty to about 300 charges, but his wife, Judy, may fight the charges.
Ngo says he was the only one with access to the trust account and he was the one who conducted the offending.
Tri Duc Ngo , a former Glen Waverley real estate agent, and his wife are accused of dozens of electronic transfers from rental and sales trust accounts into a company JNT Law Investments for its own use.
In the Melbourne Magistrates Court today, the lawyer for the accused, Erol Cinar, asked for a five-week adjournment of the matter, saying he was going overseas for a week and needed to meticulously analyse voluminous files. 
Nine internal Consumer Affairs witnesses and 19 other witnesses were on standby in case they were required to give evidence at a committal hearing.
The case was adjourned until June 2 for committal mention.
Nguyen was recently trading again, working as a business development manager at Springvale Real Estate business, Oz Capital.
Mrs Nguyen, who as at last April had a property portfolio <a href="https://www.domain.com.au/news/lj-hooker-agent-at-centre-of-collapse-claims-she-was-victim-of-elaborate-conspiracy-20160430-goivv4/" title="">estimated at $4.65 million</a>, offered for sale her two Narre Warren North homes earlier last year without success. The two houses are at <a href="https://www.realestate.com.au/property/2-4-cranston-cl-narre-warren-north-vic-3804" target="_blank">2-4 Cranston Close</a> and <a href="https://www.realestate.com.au/property-house-vic-narre+warren+north-122627030" target="_blank">6-8 Cranston Close</a>.
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