He was once counted among the wealthiest Australians, but former mining magnate Joseph Gutnick has declared bankruptcy, with reported debts of $275 million.

Back in 2010, Gutnick returned to the BRW Rich List with estimated wealth of $300 million, after an absence of more than 10 years. At the time he owned a string of small mining companies that were exploring for everything from diamonds and gold to uranium and phosphate. He was still among Australias 200 richest people in 2014, when BRW estimated his wealth to be more than $250 million.

But six years later, the once high-flyer has declared himself bankrupt at the end of last week after a business deal with a fertiliser group in India fell through. According to Fairfa…

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