‘Dark days’ after $5m loan dispute

Businessman in ‘last resort’ ordeal

ONE of the borrowers linked to an alleged scam run by Anton Mentz under the name Citi Private Capital, which has been accused of defrauding people of about $100,000, says he “didn’t think it would happen to me”.

Police on Friday arrested and charged Mentz – who was previously known as Marius Anton Ackerman – with one count each of carrying on the business of committing fraud and disobeying a lawful order.

Police say there are eight victims but there could be many more.

The businessman, who did not want to be named, said he was introduced to Citi Private and a man called Jarred Scott through a broker this year.

Police will allege that Scott was, in fact, Mentz.

The businessman said he was seeking a loan to refinance an industrial development near Brisbane.

He had previously been approved by another second-tier finance company but it backed out when COVID hit.

The businessman said that private lenders were “a last resort” for many people who cannot get funding from other sources.

He said that in April a loan offer was approved by Citi Private in excess of $5m, with his property listed as security.

But settlement was repeatedly delayed and he claims that by the time Citi Private backed out of the loan, he had written off $7500 in fees.

But that was not the end of the story.

The businessman alleges an unregistered mortgage was placed on his family property and an interest registered at the national security register, the

PPSR, on his family trust. He said the caveats meant he could not refinance the project.

The businessman said the ordeal had caused him countless sleepless nights.

“It was very dark days,” he said. “I was fortunate that I sat down with my builder and worked out a strategy and now NAB are looking at the loan.

“I didn’t think it would happen to me.

“I heard horror stories about companies which take your fees and put a caveat on your assets.”

Another alleged victim – a director of Gold Coast roadworks firm i2S – welcomed news of Mentz’s arrest.

“I think it is fantastic news that he has been arrested,” he said.

“It has vindicated what we have been saying all along … that (Citi Private) took away our funding opportunities.”