A former Gold Coast rich-lister has been found guilty of swindling hundreds of thousands of dollars from clients' superannuation funds through a series of fake investments.
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Craig Kirrin Gore, 53, was found guilty of dishonestly gaining more than $300,000 from self-managed funds involving Arion Financial in 2013 and 2014.
He was found not guilty of five related charges.
Gore promised investors the money would earn more than eight per cent interest and be repaid to their accounts within three months, his Brisbane District Court trial was told.
However, the court heard this never happened - Gore invented excuses for staff to use when investors requested their money back.
In his decision handed down on Tuesday, Judge Michael Byrne said he was satisfied Gore was aware of the poor combined financial state of Arion Financial and Arion Group.
Gore also knew there was "no real prospect of paying interest or repaying the capital" at the time the funds were invested.
He was remanded in custody and will be sentenced at a later date.
Australian Associated Press
