Embattled real estate business McGrath says it is seeking urgent clarification from founder John McGrath over media reports alleging gambling-related debts and borrowing so that the company can update the market.
McGrath went into a trading halt on Thursday ahead of an announcement it said would relate to recent media reports about Mr McGrath.
The halt came as the company posted a $25.5 million first-half loss.
Recent reports from Fairfax Media have claimed Mr McGrath has $16.2 million in gambling debts with betting company William Hill Australia.
And a report from News Corp claimed Mr McGrath has a $100 million margin lending facility connected to a private investment company.
Mr McGrath has denied all the allegations and McGrath Ltd advised…
Read the full article at: https://thewest.com.au/business/markets/mcgrath-shares-in-halt-over-founders-gambling-debt-claims-ng-b88745897z