From rich list to struggling
Disgraced developer after legal aid
DISGRACED former richlister Craig Gore has resorted to begging for governmentfunded legal aid as he fights allegations he swindled investors out of $800,000.
The new move for the twice-bankrupt businessman was revealed in Brisbane Magistrates Court yesterday, where high-profile law firm Robertson O’Gorman withdrew from representing him on 15 charges, including fraud.
Gore made a brief appearance in the court, which was told he began the process of applying for funding with Legal Aid Queensland that morning.
Applicants face a strict means test and people with assessable assets of more than $930 may not be eligible.
It is a stunning fall from grace for the property developer and son of late bankrupt developer Mike Gore, whose wealth was put at more than $200 million during his glory days on the Sunday Mail Queensland’s Top 100 Rich List in 2008.
Gore declined to comment outside court, but has previously indicated he will defend the charges.
The 50-year-old fallen businessman is accused of taking about $800,000 from various superannuation companies for Arion Financial between 2013 and 2014.
It is understood the corpor- ate watchdog will allege investors were cold-called and urged to set up self-managed superannuation funds, before Gore would get in touch and tell them to invest it in “debentures”.
But it is alleged there was no genuine chance of capital or interest being paid to the investors.
Gore is also accused of making financial decisions for multiple companies while he was disqualified from managing corporations.
A Federal Court judge banned him for life from providing financial services two years ago, after finding superannuation investors were misled into directing $4.75 million into a US property scam.