Controversy surrounding McGrath Real Estate (ASX: MEA) founder John McGrath’s alleged $16 million gambling debt has been addressed by McGrath himself in a letter to the ASX.
The statement, released to the ASX by McGrath Real Estate, sees McGrath denying the claim that he has been using company money to fund his expensive gambling habit.
McGrath admits he has an account with a bookmaker but says the account is not secured by his shares in the company.
The full statement is below:
“I am a person who values my privacy, and generally seek to avoid commenting publically on adverse media relating to me. However, the ridiculous recent press coverage seeking to link matters which are personal to me wi…
Read the full article at: https://www.businessnewsaus.com.au/articles/john-mcgrath-shuts-down-speculation-about-using-company-money-to-fund-gambling-habit.html