Haz­ard to our wealth

The Sunday Telegraph (Sydney) - - NEWS -

A TOP of­fi­cial at Aus­tralia’s “largest wealth cre­ation or­gan­i­sa­tion” al­legedly took nearly $200,000 from the com­pany, in part to pay for his en­gage­ment to a can­di­date for Pauline Han­son’s One Na­tion party.

Ac­cord­ing to al­le­ga­tions made in court doc­u­ments seen by The Sun­day Tele­graph, Grant Arm­strong — the Prop­erty Club’s chief fi­nan­cial of­fi­cer for four years and staff mem­ber of the year in 2015 — trans­ferred more than $10,000 be­long­ing to a club com­pany and founders Kevin and Kathy Young to Bris­bane’s Stam­ford Ho­tel for an en­gage­ment party on Aus­tralia Day this year.

The Prop­erty Club claims to have more than 80,000 mem­bers across Aus­tralia, in­clud­ing many across NSW, and that it has sourced and sold 18,000 prop­er­ties to 14,000 mem­bers since 1994.

Doc­u­ments filed with the Queens­land District Court claim nearly $34,000 was trans­ferred from club com­pa­nies and the Youngs to Flight Cen­tre “in re­la­tion to travel and ac­com­mo­da­tion ar­range­ments made in the name of Ker­rin (sic) Arm­strong, who is the re­spon­dent’s fi­ance (sic)”.

Mr Arm­strong’s fi­ancee is in fact Keren Arm­strong, who Pauline Han­son an­nounced as One Na­tion’s can­di­date in the fed­eral seat of Capri­cor­nia, in Cen­tral Queens­land, in April 2016. A month later Ms Arm­strong stood down as the can­di­date for the re­gional Queens­land seat due to “un­fore­seen fam­ily cir­cum­stances”.

She and the party would not elab­o­rate fur­ther.

That their sur­names are the same ap­pears to be a co­in­ci­dence.

On Fe­bru­ary 28 this year, the Dis- trict Court or­dered by con­sent that Mr Arm­strong pay the Youngs $193,783.51. Mr Arm­strong did not file a de­fence in the pro­ceed­ings nor make any ad­mis­sions.

When The Sun­day Tele­graph asked Mr Arm­strong for an ex­pla­na­tion, he said: “No com­ment.”

Ms Arm­strong said: “Take it up with Kevin. We’re all friends. Every- thing’s been sorted and dealt with.”

Asked about the unau­tho­rised trans­fers, Mr Young — who has amassed a port­fo­lio of about 200 prop­er­ties and has been listed as one of Queens­land’s rich­est peo­ple — said Mr Arm­strong “has made sat­is­fac­tory ar­range­ments with me and I’m OK with that. He’s moved on with his life.”

Keren Arm­strong and Grant Arm­strong leav­ing their home last week. Pic­ture: Me­dia Mode

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