Novice investors were convinced to place their hard-earned money in Greywolf, assured of life changing riches. Instead they became part of a trail of financial destruction.
Greywolf's pitch was presented as a once-in-a-lifetime opportunity for financial salvation."It was a chance to set us up maybe with a little bit of money and make it so that the girls had money if anything happened to me and Beryl."Danny and Beryl's daughter Anne-Marie was born with a rare medical condition.Five years after investing, their daughter Becky's health suddenly deteriorated, and the family wanted to travel overseas for medical help.
"It's setting the truth free. For years I felt like there was a wrong that needed to be corrected," Daniel says.Daniel worked for Greywolf when the money was flowing in from hopeful investors. But according to what he witnessed, it was not responsibly managed or spent.Daniel Flett says his time at Greywolf was "chaotic".
While shareholder money was being spent on lavish lunches and luxurious travel, Daniel says little was spent on mining exploration. "It makes me sick to my stomach, because I was paid by Greywolf, I collected a wage … I told people that yes, it was a legitimate company, and it did have the assets."When a customer introduced Lorraine Fitzjohn to the chance of investing in Greywolf, it felt like a gift.She wanted to share the blessing with her family.
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