The Great Southern Managed Investment Scheme went leg up in May 2009\u00a0initially with debts of\u00a0 700 million plus, but eventually it transpired that more than $1 billion was owed to investors.\u00a0<\/p>\n
Almost exactly 18 months later, 3 people from the top of\u00a0Great Southern\u00a0management have launched into a new venture,\u00a0Vault Advisory Services, trading as Vault Financial Group.\u00a0 These\u00a0ex-Great Southern\u00a0managers are John Young,\u00a0 Cameron Rhodes and Neville Hill.\u00a0 \u00a0 The rest of Vault is owned by the other three directors,\u00a0 Brian Collins (accountant),\u00a0Tim Jess \u00a0(ASX, share trading background) and Brad Gunn (business background).\u00a0At least two of these\u00a0three\u00a0blokes had also\u00a0been employed by Great Southern but it does not appear to be widely realised as there is yet to be a media article pointing out the connection.<\/p>\n
First up is the founder and original CEO of Great Southern, John Young.\u00a0 He is apparently\u00a0responsible for a large amount of the finance required to set up Vault Financial Group, but he is not listed as a Vault Financial Group director.<\/p>\n
Second is chartered accountant\u00a0Cameron Rhodes, who was the Great Southern Managing Director\/CEO from 1999 to 2010, and\u00a0a Pricewaterhouse Coopers director from 1987 to 1999.\u00a0 He is listed on the website as one of the five Vault Financial Group directors, and is apparently\u00a0the Vault Financial Group Pty Ltd Managing Director.<\/p>\n
Third is Neville Hill, Great Southern National Sales Manager for 13 years.\u00a0 Neville Hill is also listed as one of the five directors of Vault Financial Group.<\/p>\n
Curiously but perhaps unsurprisingly, there is no mention in the Vault Financial director’s biographies that any of them were involved with the Great Southern Investment Scheme, but of course it’s public knowledge that John Young, Cameron Rhodes and Neville Hill were involved, right up the top.<\/p>\n
What\u00a0is not\u00a0widely known is that at least two of the other three Vault Financial Directors were employed by Great Southern in financial management\/sales positions.\u00a0 Tim Jess\u00a0was presumably employed by Great Southern\u00a0in a ‘financial product distributor’ capacity.\u00a0 He was\u00a0at a meeting of Great Southern investors in Albury, in an official capacity along with Great Southern Sales Manager Neville Hill, in November 2008.\u00a0 In 2008\u00a0Tim Jess\u00a0is also listed as the contact for a Great Southern Securities ‘gold’ level sponsorship listed in the De La Salle Old Collegians Amateur Football Club (Sydney) newsletter.<\/p>\n
Brian Collins was Great Southern Commercial manager from 2003-2007, Business Development Manager from 1998-2009 and Great Southern Regional Sales Manager from 2007-2009.\u00a0 He is now a senior property advisor with the John Hopkins Group.<\/p>\n
Whether Brad Gunn’s link to Great Southern was direct or indirect isn’t clear as about all that is publicly known is that Brad A Gunn\u00a0established Vault Accountants Pty Ltd with Sharath Sama in December\u00a02009.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Great Southern Managed Investment Scheme went leg up in May 2009\u00a0initially with debts of\u00a0 700 million plus, but eventually it transpired that more than $1 billion was owed to investors.\u00a0 Almost exactly 18 months later, 3 people from the top of\u00a0Great Southern\u00a0management have launched into a new venture,\u00a0Vault Advisory Services, trading as Vault Financial […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[166],"_links":{"self":[{"href":"https:\/\/www.fionalake.com.au\/blog\/wp-json\/wp\/v2\/posts\/1026"}],"collection":[{"href":"https:\/\/www.fionalake.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fionalake.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fionalake.com.au\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fionalake.com.au\/blog\/wp-json\/wp\/v2\/comments?post=1026"}],"version-history":[{"count":19,"href":"https:\/\/www.fionalake.com.au\/blog\/wp-json\/wp\/v2\/posts\/1026\/revisions"}],"predecessor-version":[{"id":1045,"href":"https:\/\/www.fionalake.com.au\/blog\/wp-json\/wp\/v2\/posts\/1026\/revisions\/1045"}],"wp:attachment":[{"href":"https:\/\/www.fionalake.com.au\/blog\/wp-json\/wp\/v2\/media?parent=1026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fionalake.com.au\/blog\/wp-json\/wp\/v2\/categories?post=1026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fionalake.com.au\/blog\/wp-json\/wp\/v2\/tags?post=1026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}