Richard White and his wife Zena Nasser celebrated with Mark Merhi, who left Australia after his real estate firm collapsed owing $80 million.
WiseTech Global’s billionaire founding chief executive and his wife have partied in Dubai with a businessman who fled Australia after his real estate firm collapsed owing $80 million almost a decade ago.
The video was posted by a person with a grievance against Merhi, taking issue with the celebration while buyers of apartments in his development are left with “a tonne of debt, defects in all of there buildings”.”, describing it as a development that ticked “about every box” in failing to meet critical benchmarks in fire safety, structure, waterproofing and building enclosures.White and Nasser appear in the video posted on TikTok earlier this week.
In September 2020, as Merhi’s company was collapsing, he agreed to sell the industrial site to Ahmad Ahmad, who runs a coffee and nut roasting business in Lakemba, at a price so low that liquidators would later tell creditors the sale may have been an “uncommercial transaction”. White said in November: “Mark Merhi ... introduced the refinancing deal to me … I am aware that Mark Merhi knows Ahmad. It was through that introduction that the refinancing arrangement ... was organised.”
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