Hazard to our wealth
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