It may sound like an unlikely hunting ground, but a coastal bowling club full of cash-strapped seniors was the perfect place for Greywolf to find seed investors.
The pensioners there were inexperienced with the stock market and financially vulnerable, anxious to ensure comfort and safety in old age.
Mates Trevor Chapman, Noel Higgs and Tom Cain never suspected their new bowling mate was on the prowl.
“He was such a gentleman, and quiet,” 82-year-old Trevor says. “He was very gentle, an English gentleman.”
After showing up one “thirsty Thursday”, the well-presented “executive type” worked quickly, selling Trevor the dream of life-changing fortunes.
“He really infiltrated the club and became one of us, and we trusted him,” Trevor says. “He wormed his way in.”
Retirees Trevor Chapman, Noel Higgs, and Tom Cain enjoyed bowling at their local club on NSW’s central coast.
Using that trust, Trevor and his mates say the businessman convinced them to invest chunks of their precious savings in his company.
His spiel was simple: his mining exploration business owned tenements and leases for land containing precious gems, gold, coal, and other minerals. It was all supported by an impressive company website.
“I trusted him as I would Noel and Tom, he was one of us and he was doing us a favour,” Trevor adds.
The pensioners say they were also told the company was going to be listed on the stock market within weeks. They could get in on the ground floor.
“There was no grey area, it’s going to happen in four or six weeks … it was a sure thing,” Tom says.
“The spiel was, ‘I’m going to sell [the shares] to you at a cent a share, but they are really worth a dollar’,” Noel says.
As far as sales pitches go, for these pensioners, it was irresistible.
Trevor says the man’s pitch appeared genuine.(Four Corners)
Based on the businessman’s promises and assurances, Tom and Noel invested. So did Trevor, who sunk $5,000 into the company.
It was money Trevor could barely spare, and which he certainly could not afford to lose.
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