Sydney glamour couple stay in LA owing investors $2 million | hornery
Nearly a year after the Supreme Court of NSW found a Sydney glamour couple had misled potential investors into taking up shares in their online media empire, the pair are yet to pay a single cent of the $2 million they now owe.
"This commercial dispute has definitely taken its toll on our family and it is disappointing that our efforts to resolve it have been ignored," Chalmers claimed. "Given the opportunity to rebuild we would want to make good. We have built a life here in the USA and are not looking to shirk our responsibilities".
In his judgment last year Justice David Hammerschlag found the Sydney investors had been given "misleading financial information" about Sporteluxe's revenue, and the shares were worthless. However the court found the investors were unaware Sporteluxe's revenue figures had been pumped up when Cheah transferred more than $167,000 into the company's accounts, which turned out to be earnings from her work with IMG.
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