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Michael Flaherty and Greg Wheeldon
Commonly Referred to as "EFSL" Registered 17/6/2009
Bundall (Gold Coast), Australia
Affiliated Companies: Flo Concept Group Pty Ltd (Under Administration - Read report)
      OPM Global Pty Ltd 
FCO Investment Trust
FCG International Limited
Civic Capital Mortgage Fund  See below
Please note (namesakes): The Greg Wheeldon named on this site is NOT Greg Wheeldon of Mandikos Wheeldon Architects, nor is it a Greg Wheeldon who runs a transport company in Ipswich. The Greg Wheeldon we are referring to is an alcoholic lawyer based on the Gold Coast in QLD and not related to the other namesakes.

Wikifrauds has evidence of this company taking large up-front advance fees for loans that never eventuate, and fees that are never refunded.  
These appear to be yet two more related Ponzi-style schemes very similar to those we have already exposed. Theses scams also involves potential borrowers, predominately builders and property developers, handing over money for loans that never eventuate.

Wikifrauds has the details of some dozen clients of EFSL who have all paid up-front fees ranging from about A$17,500 to over A$400,000 and not one single loan has ever been settled despite settlement dates being advised to these clients.

Some clients have been waiting in the long queue for over a year. EFSL's lawyers, Astills of Queensland, have even issued mortgage documents for these loans but never settled. (One would think that the law firm by now would have wondered why not, and asked questions of their client, EFSL)

It appears from the information provided to Wikifrauds that EFSL has never actually had any money to lend, and that at some time around the last quarter of 2010, they claimed to their clients that they had sought to obtain underlying backing funds for their portfolio from some USA-based lending outfit, and that they had forwarded a vast amount of the client's fees to this lender, but to no avail - the allegedly promised funding never came.

Notwithstanding the obvious problems of having no money to lend, the company continued to take new loan applications and fees right up to January 2011, and to continue the facade of producing new mortgage documentation and advising these new clients of settlement dates - none of which have eventuated. With no other apparent income, EFSL and its directors can only have survived this long by using clients fee's as working capital.

EFSL is now telling clients that they are required to pay yet another up-front fee of 20% of the loan required, and that they can then expect settlements towards the end of 2011. One newly found source of funds is supposedly a company called Spearhead Services Group. A lot is now known about this group which has now been exposed as another major fraud run by one evangelistical predator, Tua Toki.. The 20% fees required jointly by EFSL and yet another Melbourne based company (name withheld) are to be paid in a one way deposit to a small-time suburban solicitor's trust fund, James Watts Lawyers of Milton, a Brisbane suburb. The spiel that some EFSL clients have been given is that Spearhead is an introducer to this other company, and that these funds are being enabled via some obscure United Nations or charity-based NGO fund for third world development projects, coordinated by a former barrister, name also withheld. Further information about this will be released in due course.

Disgruntled EFSL clients are looking to lodge formal allegations of fraud with the Queensland police shortly.

In the meantime, Flaherty and Wheeldon have decided that their website should be "updated". It has been in this status for several months now since Wikifrauds exposed the fraud.

However, it is affiliated with and manages Civic Capital Mortgage Fund, a company run by Flaherty's father, Terrence Flaherty. This company allows EFSL to use its Australian Financial Services Licence under which the EFSL frauds have been committed. Investors should be wary of doing business with this company also as it is part and parcel of the whole scam. (See website for proof of the connection.) ________________________________________________________________________________________________________________________

Michael Flaherty and Greg Wheeldon

Michael Flaherty
, a South African, is the CEO of EFSL. It is understood that he lives in a rented house and has very little in tangible assets in Australia.
Flaherty also had another company, Flo Concept Group Pty Ltd, to which administrators were appointed on December 9, 2009. Employees were left in a situation where, contrary to law, their superannuation had not been paid. The outstanding amount is $90,774.61. The ATO is owed some $198,418.00. Flaherty, who doesn't care who he hurts nor how much he hurts people, was meantime of course, running around in two Audi Turbos. And in a bit of sleight of hand accounting, these two expensive luxury vehicles were listed as assets of the company when in fact they were under leasing contracts with BOQ.
Greg Wheeldon, also a director of EFSL, is the company's in-house lawyer. He boards with another couple and likewise apparently has very little in real assets. Wheeldon was previously involved in the $87 Million collapse of Secured Mortgage Management and Summit Mortgage Fund in June 2008.

EFSL Website: Until recently the EFSL Website provided readers and borrowers alike with a lot of glossy information about their funding prowess. It is now undergoing a re-design, or so it says. We think they have ducked for cover.

Empowered Financial Services Limited (ACN 137 742 442 ) is an unlisted public company, limited by shares, and first registered on June 17, 2009.

Spearhead Services Group (ACN 142 915 704) was first registered on April 01, 2010 and operates from a 66th floor apartment at Q1 in Surfers Paradise Queensland. The CEO is a Mr Tuo Toki. We are also advised that allegedly connected to Spearhead are two legal men, one un-named, and a Robert Corrie. Their specific involvement levels is unspecified at present, and we are looking further into these connections. The ASIC registration details show the locality of the registered office as Michellton QLD. Mr Corrie's accounting office is also located at Michellton, QLD. Tua Toki is telling clients that Mr Norrie set up his "NGO" lending platform and gives clients the clear impression that Norrie is part of the deal. At this stage we cannot confirm this, and it may well be that Tuo Toki is just using the name for window dressing.

Wikifrauds knows of a number of clients who have sent large fee amounts (up to $100,000) to Spearhead and Tua Toki, and no action has been taken in advancing their loan applications, with many clients wanting their money returned, which is not happening. Tua Toki is reportedly not paying his employees on time, does not have an employee superannuation fund, and can't even reimburse his sales people's petrol accounts.

Concerned readers or clients who have not already discussed these two companies with us are urged to do so in complete confidence. Contact us.

Latest from another victim:

Pasted below is an email exchange between us and a victim of Flo Concept Group. Read from bottom up. We have the victim's permission to publish:

Hi John
Yes I have been to the police and they said to me that the only way that I could charge him with fraud was to have myself charged with fraud also because it was my signature that appeared on the original loan documents.  The letter that was given to the provider was a definite forgery as I have only become aware of this letter as I have a complaint with the financial ombudsman service and they produced it if you have any other ways you think I may be able to get at this piece of scum I would love to hear back from you
I was originally tele-marketed from a surf club members  list that he must have been privy to from having a sponsorship with the club at the time which I am not happy about either
As far as I know I had no dealings with greg weeldon . Could you please tell me if there is any type of class action being made against him as I know I am not the only person that has been affected by his dealings from speaking to various solicitors
You are welcome to post my email on your website
Regards Paul Carragher
From: Investigator1 [mailto:investigator1@wikifrauds.net]
Sent: Wednesday, 16 October 2013 3:15 PM
To: paul
Subject: Re: *** SPAM ***Flo Concept Group (Michael Flaherty)

Hello Paul,
Sorry to hear of your plight.
Have you been to the police yet? If not, you should get together all your documents and emails etc and see them immediately. If you need a first contact I can get one for you, depending on your location.
Couple of further things - were you introduced by anyone to Flaherty, and if so,by whom? And did you have any dealings with his in house lawyer, Greg Wheeldon?
Let me know if you would like this email of yours posted on the website - minus your name of course.
Thanks for letting me know, Feel free to call me if you wish.
John Carter
Owner & Editor

----- Original Message -----
From: paul
To: investigator1@wikifrauds.net
Sent: Wednesday, October 16, 2013 3:27 PM
Subject: *** SPAM ***Flo Concept Group (Michael Flaherty)
This fellow has destroyed my life and my credit rating. All I wanted to do was to roll a credit card debt into my home loan. He and this company coerced me to buying an investment property he forged loan documents stating I was earning 120 000 per annum  under an ABN to get a low doc loan. I have lost my house and now am applying for bankruptcy to get myself out of a situation that I never should have been in.  He has cost me about 300 000 dollars financially and have been hospitalised for depression for what this fellow has done to my life. A bullet is too good for this person he needs both his arms and legs broken and jailed for life in my eyes. I cannot afford to attack him legally.
Regards Paul Carragher


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