Fugitive property tycoon Michael Gu, whose iProsperity empire spectacularly collapsed amid fraud allegations and luxury excess, is back in the spotlight as investors in Salter Brothers-linked funds hire lawyers to claw back more than $100 million they say has been frozen for years.
The Chinese investors, many of whom migrated to Australia under the now-scrapped Significant Investor Visa scheme, have engaged powerhouse litigation firm Quinn Emanuel and are weighing a class action and potential bid to replace the trustee of several Salter-managed vehicles.
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