Allan Endresz is the face of business nightmare. In two decades of evading pursuit by government regulators, the disgraced share trader has found a way to ensure he never has to pay his debts to anybody.
In the epic saga Endresz was telling his Cook Islands bank that he secretly owned $50 million in stock and property in Australia even as he was fending off a 16-year campaign by the Australian Securities and Investments Commission to bankrupt him for unpaid debt.
Endresz is Mr Teflon. Assets don’t stick to him. And neither does debt.
“I own things, but it’s always qualified by declarations of trust,” he told The Australian Financial Review.
While his companies were the beneficiaries of one of Australia’s biggest governm…
Read the full article at: http://www.afr.com/news/investigations/paradise-papers-the-cook-islands-millionaire-who-never-has-to-pay-his-debts-20180322-h0xuln