Corporate consulting chief Adam Powick revealed he invested in a multimillion-dollar scheme created by a partner at the firm, in what he says was a betrayal of trust.
that Amberjit Endow ran a suspected multimillion-dollar fraud while working at Deloitte, ensnaring AFL legend Rodney Eade, dozens of executives and many of the prestigious company’s own partners. Investors estimate the scheme could involve more than $60 million.Endow disappeared in December and can no longer be found or contacted by the worried investors, who have hired asset-tracers to find him and the money.
“I have recently been made aware that Mr Endow allegedly used my name and title to help recruit additional investors. At no time did I give permission or was aware my name was being used in this capacity. I view this as a significant betrayal of trust, and I am appalled that my name was misused in this way.“I was unaware, and remain unaware, that this investment was anything other than what was represented to me by Mr Endow.
“The promised returns are obviously eye-watering and should have raised major red flags,” said one source, who asked to remain anonymous because he was not authorised to comment. “That’s how he roped me into it, by mentioning Adam’s name,” said one investor. “At the time, it influenced me and others to join the scheme.”“It legitimises it, and these are all successful prominent people [who invested],” he said. “We trusted this guy ... I thought it was fairly safe because of who was involved.”Deloitte CEO Adam Powick
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