Starring . . . .
Keep an eye on the cast, new actors (in red) are being added from time to time.
Bank of Scotland (BOSI)
Allco
Strategic Nominees Ltd
South Canterbury Finance
Anderson Creagh Lai - Greg Shanahan
Korda Mentha NZ
McGrath Nicoll
Hilton Hotels - Ashley Spencer
Price Waterhouse Coopers
Gleneagles Securities
Westpac Bank
Courts Fiji Limited (Vision Group) Mr. P L Munasinghe
The Fiji Judicial System (or lack of it)
Andy Haden, former All Blacks star, and self-confessed cheat.
John Bongard, former CEO of Fisher and Paykel
Denarau Hilton Villa Owners Pty Ltd., and the Individual Villa Owners (the 'Good Guy' victims)
Produced and Directed by Neville Mahon . . . The Bad Guy.
Screenplay by Gregory Shanahan
The plot in a nutshell. . . (spread over two or three years)
- The bad guy Mahon builds the Fiji Hilton under one company.
- Mahon assigns management of the hotel to another Mahon company.
- Mahon's development company does a deal with Hilton Hotels to run the resort on a day-to-day basis.
- Mahon's development company sells villas to individual owners - ordinary mum and dad investors.
- Mahon's development company begins to have financial trouble.
- Mahon then begins to divert rental income from villa owners
and uses it in capital works for completion of the staged construction.
Hilton continue to receive their share of rental income.
- The
bad guy's development company is put into outside management by
receivers Korda Mentha, appointed by Strategic Nominees, a subsidiary
of Allco who is now also under receivership by Bank of Scotland, who
themselves are in big trouble.
- The 160 or so villa owners continue to be denied their rightful rental income while the receivers and Mahon's management company
appropriate incoming fees. Hilton, sitting on the fence, still get
their income and share of operating profit. The receivers get away with
charging whatever fees they like to administer the development companies affairs, and become the real operators of the resort.
- The receivers begin to look at potential buyers of the development company.
- The villa owners seek to wind up the development company in the Fiji courts.
- Villa owners also seek to lockup their own villas to deny receivers further 'free income'.
After all, the units themselves DO NOT belong to the receivers, yet the
receivers have treated the villas as if they belonged to the failed
development company. The receivers counter with threatened legal action. (See letter to villa owners)
- However, the villa owners DO SUCCEED in having certain bank
accounts frozen by court order - it is their income under the agreement
with the Mahon's company.
- The receivers continully block all moves to wind up the
development company, and use the almost defunct Fiji legal system to
deny natural justice for the villa owners. They are collectively now
owed some $8 million in rental income and individul owners are under
pressure by their own mortgagees to repay their own debts on their own
title leases.
- Hilton Hotels, still on the fence, continue to get their share of income and profit.
- A "back-door"deal is proposed by Mahon (who is already under
default to the tune of NZ$100M under various other guarantees) in which
a new company he has registered in the Virgin Islands (MBH) does a
joint venture with Fiji company Vision Group Ltd. Mahon, hidden behind
a Chinese Wall, is to hold approximately 50% of this new Vision entity.
- A
deal is struck with Westpac in Australia for Vision Group to fund the
purchase of the security held by BoS and Strategic for about half its
face value.
This will leave these receivers out of the loop altogether and give Mahon
effective 'back door' access to the frozen funds belonging to the villa
owners.... but, there are OTHER receivers at work here. The plot thickens.
- It is understood from documents made available
to us that Mahon, through a nominated trustee in one Mr Chan Dantley of Hong Kong, owns MBH - his Virgin
Islands front company. MBH
has received some $3 Million deposit from Vision
Group for the aquisition of the current debenture held by Strategic. A
deal being financed by Westpac and orchestrated by Mahon through Sydney
firm Gleneagles Securities. Mahon it seems will pocket $1
Million, and the
remaining $2 Million is to be allegedly paid to BoS. Seems there has
been a
lot of wheeling and dealing behind the scenes, and it will all come out
before the play is ended. And the front seat audience is likely to be one or more Supreme Courts.
The end of this tragedy is yet to be written.
And the ending will include the parts played some of the corrupt cast
and the collusion that has taken place to this point, including
allegations of attempted bribery by certain Fiji lawyers and under the
table deals within the banking industry. This play could well end up
being a two hour TV mini-series.
A note to the Director Producer:
What has been suggested as the plot so far is only part of the
screenplay. The writers have twice the material at their disposal to
weave into this story than has thus far been suggested. Among this are
interesting conversations and so-called confidential emails. Totally
incriminating evidence of the bad guy's power plays. The ending is
bound to be spectacular and a not too happy one for the villain and
some of the conspirators.
_______________________________________________________________________________________________________________________
Updates
Dec 02, 2011: Neville Mahon is to take legal action
in seeking an injunction in the Sydney Supreme Court next week to
restrain Wikifrauds and have this "defamatory" webpage pulled down. If
you are an angry villa owner and would like to support us in keeping
this page going, please contact us urgently and we will advise you on
how you can assist us.
Contact us. You cannot allow Mahon to succeed in this attempt to hide the truth.
Update Jan 25, 2013 - He tried, obtained the injunction, and it has now been dissolved. He has therefore failed. See note at header of page.
______________________________________________________________________________________________________________________
Villa Owners Class Action:
The Denarau Hilton Villa Owners Pty Ltd has engaged a Melbourne law
firm to commence a class action against various parties. The law firm
has published a secure website for villa owners to submit certain
information. This website, whilst active
now, is to be further enhanced in coming days and a link will be provided and villa owners advised. A senior barrister
has
been engaged already, and work has commenced in investiagiting
jurisdictional issues, and on the preparation of a Statement of Claim
against various parties. Villa owners are encouraged
most strongly
to support this action. At risk is all the owners income that has been
frozen in Fiji (estimated at between $8 and 10 Million), and your
future returns being reduced from the agreed 50% to somewhere between
30% and 35% of the resort's income.
At this point in time, the Wikifrauds webpage is vulnerable. If the villa owners fail to get behind both Wikifrauds
and
the class action that is commencing, then the frozen money will be
lost, and you will all be subject to a reduction in rental income, and
further adhoc, non-transparent deductions without any accounting from
Mahon or his cronies at Vision or elsewhere. Not at all what you
envisaged when you first invested in this developement.
_______________________________________________________________________________________________________________________
Nov 30, 2011: No matter what
the documents and contracts may show, Neville Mahon is clearly now in
total control over the Fiji Hilton. His trail of involvement is now
crystal-clear to follow. He has allowed mistakes from his involved
partners in this crime. Mistakes such as his name being mentioned as
the controller of negotiations with Vision and others in certain emails
from his lawyer Greg Shannahan. And again, Mahon is named in an email
dated November 29 from former All Black Andy Haden, the disgraced and
self-confessed cheat, as now having a 40% stake in the resort that has
cost investors hundred's of millions, and villa owners a substantial
loss of income as well as a devaluation of their villas. Haden, a villa
owner himself, also runs invitation golf days in September each year
and the guests use the resort. The cream from these golf days is
bolstered by discounts in the accommodation rates to these guests in a
long-standing deal with his friend Mahon. The villa owners have never
received an accounting of this arrangement, nor any other
non-transparent arrangements made by Mahon. It is patently obvious that
Mahon considers the resort as his personal asset to manipulate as he
sees fit, regardless of the actual owner's rights.
Now, under the cover of Haden and former Fisher and Paykel CEO John
Bongard's names, Mahon has issued what is nothing more than an
ultimatum to villa owners to accept a whole new deal. They are all
expected to just simply sign up for a 30 - 35% share of rental income
or else! The original agreement is 50% of income, but given the mess
created by Mahon and the receivers of DIL, Korda Mentha
, the villa owners have not received any payments for over two years
except for a payment for Q3 2011, and that was arbitrarily trimmed back
to 35% with no explanation or prior consultation. And all this is
happening with the knowledge and presumably prior aproval of Hilton
Hotels and their Australian-based regional manager, Ashly Spencer. It could not have hapened without their input.
The ultimatum email is pasted below. Not a word has been changed by Wikifrauds:
November 29th 2011.
Dear Villa Owners,
We
last communicated with you at the end of August as we tried to avoid what was
being circulated as an expensive, protracted and most likely to be unsuccessful
way of dealing with financial issues of the past that affected Villa Owners. The
issues of concern were predominantly the unpaid income dating back to the period
before DIL went into receivership. We suggested, as an alternative to
Litigation, that we would approach the Receivers in a fair and reasonable manner
and propose that they make a one-off payment that would wipe the slate clean so
to speak. We received 80 positive responses from Villa Owners to this suggestion
and 1 negative response.
Soon after writing we became aware that a sale
was imminent and we didn’t proceed with the proposed negotiation with
KordaMentha. We are all now aware that the Vision Group acquired a 60% interest
in Denarau Investments Limited, the developer of the Hotel and a 60% interest in
Denarau International limited, the manager of the Hotel. At the same time the
securities of BOS International (Australia) Limited, Strategic Nominees Limited
(in Receivership) and South Canterbury Finance Limited (in Receivership) were
all settled and the Receivers were removed.
As
soon as that deal had been done we felt that it was prudent to approach the new
owners (the Vision Group) with the same request we intended making to the
Receivers. Strike while the iron was hot if you like.
Mr
P L Munasinghe – Chief Executive of Vision Group - was very receptive to our
approach and even though he made it quite clear that the new owners believe that
they have no legal obligation to make good any of the past, he agrees, as a
goodwill gesture, that the Vision Group would consider our request and make
payments that would draw a line under the past and start afresh with any or all
of us that wanted to move on. The Vision group have confirmed that there was no
Villa Owner ‘fund’ held by KM that formed part of the negotiation that Vision
Group went through to purchase the Resort.
The
payments that the Vision group are prepared to make are as follows:
·
FJD $10,000 for the Owners of
each of the Studio and 1 Bedroom Villas,
·
FJD $15,000 for all 2 Bedroom
Owners; and
·
FJD $20,000 for owners with 3
Bedroom Villas and above.
All payments plus
VAT.
Please reply by December 9th if you
are prepared to accept this offer and we will pass your response on to the
Vision Group to formalise settlement before Christmas.
Should you not wish to agree to this amount
Vision has indicated that this window of opportunity will not be open again and
you will be addressed in the same manner as an unsecured creditor from the past.
We
also, during our three meetings with the Vision group, took the opportunity to
put some other Villa Owner issues on the table.
- Improved Villa Owner booking procedures and
shorter, more Owner friendly, lead times for bookings.
- Minimise Villa Cleaning charges wherever possible and
come up with a different payment option for cleaning costs.
- Enforce an Adults only pool and a relook at
the gymnasium issues raised in the past.
- Make
a commitment to a timeframe for the completion of buildings, pools, restaurants
etc. stage by stage.
- Find
out the Vision Groups intentions as far as an Hotel refurbishment programme is
concerned.
Mr
P L Munasinghe has promised to address these issues within the next few weeks
and has agreed to come up with some suggested solutions that we can discuss and
circulate and hopefully agree on.
Mr
P L Munasinghe also explained very clearly why the 50% payout could not and
would not be made as suggested by the Receivers in their parting letter. Given
the room rates that the Resort currently achieves and also given the present
cost of running the hotel, the Vision Group maintain that this figure is
simply not sustainable. It’s hard not to agree as we have experienced
first-hand over recent years that a 50% payout is unaffordable and we know
exactly what such expectation has done to the project before ie. Receivership!
(Indeed the Receivers weren’t able to pay out 50% either at any stage during
their 2 years of running the resort!)
We
believe that the current pay-out, which is around 35%, is pretty good given the
economic climate of today. For the next 2 quarters (which as we know are not the
best quarters of the year) Vision Group have told us that they are committed to
try and get the payments as close to 30% as possible.
Hopefully, if the new management can achieve
its long term goal of improving the room rates to somewhere more in keeping with
the calibre of the resort and can reduce running costs, we may return to a
percentage closer to 50% in the future. Paying 50% is achievable if we can get
to an average room rate of FJD $450 with an occupancy of about 60%.
The
average room rate over the last 4 years has not been much over FJD $200. We
read that the proposed average rate for 2012 is budgeted at FJD $316, then if we
factor in a completed resort and better facilities and maybe some conference
business it is conceivable that one day in the not too distant future, the 50%
we all signed up with the previous regime for, may be possible.
Overall, we were very heartened to hear that
the Vision Group were viewing the Villa Owners as partners and were considering
us to be integral to the success of the resort. We think that we are very lucky
to have a second chance at securing the equity we all have in our investments
and now with a financially strong and thoroughly professional group of local
business people running the resort we are sure that the value of our Villas will
once again return. We hope this time we will see the Resort deliver its true
potential.
We hope that you will respond to the above
offer positively when you receive the formal documentation from Mr P L
Munasinghe. We need to be mindful of an additional commitment that Mr Munasinghe
has also made. He said “there will be no better offers than this one made by the
Vision Group to any Villa Owner at any time in the future".
And
for your information the following points are relevant …
·
Neville Mahon’s interests
continue to have a 40% shareholding in the Fiji Beach Resort and Spa
assets.
·
Graham Knott wrote to the Vision
Group asking if he could also be a shareholder in the purchase of these assets
but advised the Vision Group he would be expecting them to loan him the money
required to fund his investment.
·
KordaMentha did not identify, in
the settlement with Vision Group, any sum to which Villa Owners were entitled as
income not distributed in the past and hence the ‘goodwill’ description we use
to describe the offer the Vision Group.
·
We, the below named, have not
asked for, nor received any fees for our work, nor will we receive any fees for
this work in the future.
We
look forward with renewed confidence to a fresh start for the Fiji Beach Resort
and Spa.
Kind regards,
Andy Haden and John Bongard.
NB.
Mr P L Munasinghe has advised that the formal offer will be mailed to all villa
owners shortly and will remain open for acceptance for a limited
period.
What gives Haden and Bongard the right to purport to act for the villa
owners or for Vision Group? These two people have no legal standing
whatsoever other than as villa owners themselves. They are obviously
friends of Mahon, who is known for his back-door deals, or why would
they support some deal which would see their own rent return diminish
unless they are receiving some other benefits?
Haden the cheat, and Bongard, who presided over the
Fisher and Paykel debacle, have a lot of explaining to do. Just what is
their
deal with Mahon? There has to be one, or they would be fighting for
their rights themselves instead of doing Mahon's bidding. Maybe they
obtained their villas in some other way and didn't pay for them. Maybe
the NZ tax authorities should be looking at them also. These two,
regardless of their fame or infamy, should not be listened to. This
ultimatum from Mahon and Vision Group, designed to be credible by using
Haden and Bongard, is a bluff. Mahon hopes that the villa owners
capitulate and sign a new agreement. They have a perfectly legal
agreement in place right now and no amount of bluff and bullying by
Mahon and Vision Group can change that. The villa owners should stand
up and be counted, or otherwise their investment will become untenable,
and devalued further. In fact, we think that this is part of Mahon's
long term strategy - drive out the villa owners and buyback the villas
one by one at hugely discounted figures, until he owns the lot. Then he
will in all probability turn on Vision Group an oust them.
Nothwithstanding this ultimatum being what it is, it also contains a
complete fabrication relating to Graeme Knott. Mr Knott wanted to have
the villa owners combine into a group to manage the resort, which makes
total sense. A proposal was put forward for such a group to buy the
secutities subsequently sold to Mahon. This would have prevented the
financial rape of villa owners from continuing as it appears it now
will.
Wikifrauds, and a determined and growing group of villa owners, will
not rest until this whole matter is referred to New Zealand's Serious
Fraud Office, and the Inland Revenue Office. This relentless unscrupled
meglomaniac and bully must be stopped, and he must account for his
activities to the public at large, and his investors and the villa
owners in particular. Meantime, he should know that action along these
lines is being taken right now, and we are not going away.
_____________________________________________________________________________________________________________________
Nov 14, 2011: Neville Mahon is
now rattling the sabres in a typical bullying move, with Australian law
firm Elliot May Lawyers issuing an undated draft injunction seeking
Wikifruads be restrained from publishing this webpage and alleging
defamation on our part. Mahon had better be prepared to personally
appear in the Supreme Court in Brisbane to put his case and show how he
has been defamed. And his lawyers should be make him aware of the
danger of giving false evidence in Australia, either in direct evidence
in court or by affidavit. A short while ago an Australian Federal Court
Judge, Marcus Einfeld, was jailed for perjury for three years over
false declarations made relating to a paltry traffic incident. There is
no defamation in truth, and as mentioned
elsewhere in this webpage, we have the absolute proof that he is again
behind the new controls at the resort. Our legal team will be anxious
to cross-examine Mahon, and
call a host of supporting witnesses from as far away as New Zealand and
Fiji, and Mahon had better be in a position to tell the whole truth and
nothing but the truth, as that is exactly what we will be seeking.
Nov 9, 2011: The villain
is now back in the driver's seat. The back door deal with BOS, Vision
Group, Hilton Hotels and Mahon's MBH sees Mahon once again in charge of
the cash inflows and in a position to further pillage the villa owners.
The deal is done and settled - for the time being at least. But there
is still a long way to go before this play's final curtain call.
Nov 2, 2011: The villain enters the stage by the back door.
Typical of the most callous looter, Mahon has re-entered the financial
wreckage of the Fiji Hilton this week in a backdoor move facilitated
and settled by
Westpac Australia. The deal was brokered by Gleneagles Securities, and saw Vision Group
take out the Strategic Nominees debenture over Mahon's Denarau
Investments Limited for less than half of its face value. The deal
involved an under-the-table payment of some $2M to BOSI by Vision.
Vision's partner in the deal is none other than our villain Mahon
himself under another of his entities, MBH, the Virgin Islands company
in which Mahon's shares are held in trust by
Mr Chan Dantley of Hong Kong. Mahon will deny any interest in MBH, but, like most fraudsters, he has slipped-up on detail and control, and we now have
conclusive PROOF that he is clearly pulling the strings via his co-producer, lawyer Greg Shanahan.
The prize:
Our looter will once again be in charge of distributing the lucrative
income of the resort to suit himself, and more importantly, he will
seize the $8 million plus held in a frozen account which rightly
belongs to the villa owners as their share of the rent. We understand
both Westpac and Vision were warned of this prior to settlement.
Meantime, villa owners, many of whom have mortgages to Westpac Fiji,
are watching their assets devalue by the minute, and are not receiving
rental income while
Hilton Hotels continue to use
their
villas! And the
government of Fiji, aware of the problem, is doing nothing. Sensible
investors should think carefully about ever investing in Fiji, or for
that matter, any development in which Hilton is involved. Clearly the Prime Minister of Fiji has failed to mop
up corruption as promised, and Hilton Hotels don't give a damn about
owner's rights as long as they get their slice of the pie first.
Catching a Monkey: It has been
a well known long-practised method to capture a monkey by using a
coconut and some peanuts. A hole is cut from the top of an anchored
coconut, into which are placed a few peanuts. The monkey reaches in to
grab the peanuts, and in so doing forms a fist that will not be able to
be removed without the monkey releasing the peanuts. The greedy monkey
is unwilling to let go of the peanuts even to avoid capture, which
quickly follows. It seems some humans fall into this 'monkey' greed
trap also. Readers can decide how many greedy monkeys are in the cast
of this play.
______________________________________________________________________________________________________________________
Appeal to Villa Owners
If you are an aggrieved villa owner who is way behind in rental income, and you want some action to remedy this situation,
please contact us.
Your information will be kept totally confidential. A fighting fund is
to be established and a separate website for secure lodgement of your
details will be on line soon.
______________________________________________________________________________________________________________________
Mahon is a manipulating bully
who is dishonest and corrupt, and has induced others into corrupt
behaviour themelves. And when the resort was under construction, he
ruthlessly bullied sub-contractors into accepting heavily reduced
payments for services. One such example is a swimming pool builder who,
on presentation of his invoice for the contracted figure of around
$70,000 for the completed pool, was told by Mahon that,
"I'll pay you $25,000 and that's it. If you don't like it, take me to court!". This
is a typical example of how this scheming evil man treats people. But
not everyone sees him this way. We understand that Hilton Hotel's
management in Sydney had Mahon as their guest at their facility at the
Melbourne Cup at one time. Go figure! It surely begs another question -
should people thinking of investing in any development badged by
Hilton Hotels
think twice? Will they get support from Hilton when and if needed, or
will they be left out in the cold as the villa owners in Fiji have
been? Perhaps they should seek independent legal advice before buying
any such investments that are to have a Hilton badge.
It is
believed that the Fiji tax authorities and the Fiji Attorney General's
office wish to pursue Mahon over substantial unpaid taxes amongst other
things.
_________________________________________________________________________________________________________
will be publishing more details of this amazing play and showing the important and
critical roles played by each member of the cast, including a
considerable number of extras. All jokes aside, there is a serious
matter of injustice and an ongoing fraud that has been brought to our
attention. We intend to publish all of this in an effort to gain
justice for the current villa owners who are being robbed of their
contracted returns by an orchestrated manipulation by Mahon, right
under the noses of the Hilton Hotel Group and Denarau Investments
receivers, Korda Mentha. We have now published a legal opinion obtained
by the villa owners group, which in itself highlights numerous breaches
of contract by Mahon, who is now trying to buy back in through the
backdoor. What's more, a well known Australian bank is stumping up the
funding in a buyout of a well known Scottish bank's debt over the
failed development. And the receivers apointed by this bank have been
left out of the deal - or so it appears.
More to come in the next day or so, meantime, a legal opinion
from Lowndes Jordan lawyers obtained by the Villa owners, who are
also
wrongly being left out of a deal due to be settled this coming
Thursday, October 27. This opinion is quite clear that our bad guy had
been in breach of agreement prior to his companies failing.
We will continue expanding this page over the next few days. In the meantime,
any of the role-players listed above should take notice that any
continued support by any of them to Neville Mahon or any of his associated companies, will be exposed in
full. The man is totally unscupulous and needs to be stopped.
Neville Mahon, Greg Shanahan, or any other parties
feeling aggrieved by this publication may contact us and we will
happily advise them of contact details of our lawyers.