Investors face $145 million in losses as ISG Fund Management folds amid fraud allegations
Falsified documents, destroyed records and 1,600 investors facing losses of $145 million; the liquidation of a failed property and business investment group of companies could shatter many lives.
Since 2019, a failed group of companies under the ISG umbrella raised approximately $145 million from investors who now face the prospect of losing it all. (Image source: API Magazine/ISG former website)
Liquidators for a failed $145 million Brisbane funds management company — which had been trading while insolvent for over a year — have discovered the “destruction of books and records” and cases of “falsifying documentation”.
Olvera Advisors have been appointed liquidators to ISG Fund Management and its two schemes, the ISG Real Estate Equity Fund and the ISG Private Access Fund, as well as at least 24 other connected companies.
The entities —…
