logo
‘Seduced by his personality': The fall of a finance fraudster

‘Seduced by his personality': The fall of a finance fraudster

Investors say Linden Toll was 'charming' and 'charismatic'. The Sydney Grammar boy, law student and one-time Macquarie futures trader certainly looked the part. He owned houses in Bowral, the highlands district that's become 'Sydney's Hamptons', drove a $130,000 BMW, and favoured clothes from premium New Zealand label Rodd & Gunn.
Toll and his family holidayed in Maui and Byron Bay with his rugby league hero Gorden Tallis. A keen golfer, he also sat on the Bowral Golf Club board.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

No CBA, no worries: How Firetrail beat the ASX by riding the IPO wave
No CBA, no worries: How Firetrail beat the ASX by riding the IPO wave

AU Financial Review

time14 hours ago

  • AU Financial Review

No CBA, no worries: How Firetrail beat the ASX by riding the IPO wave

As fund managers across the country cheered the unofficial reopening of Australia's market for initial public offerings, perhaps none were more excited than Blake Henricks. The ex-Macquarie stockpicker who co-founded Sydney-based boutique manager Firetrail Investments has pounced on the flurry of new listings this year by adding some of the more high-profile names to his $437 million Australian High Conviction Fund.

Sacked Dubber boss could lose multimillion-dollar home
Sacked Dubber boss could lose multimillion-dollar home

Sydney Morning Herald

timea day ago

  • Sydney Morning Herald

Sacked Dubber boss could lose multimillion-dollar home

Fresh court documents reveal that the day before the trading halt, McGovern took out a $1.9 million mortgage on his Warrandyte home. About the same time, Madafferi was emailing Dubber's board members, assuring them the money was locked up in the term deposit account that never existed, according to documents lodged by the company in the Victorian Supreme Court. Macquarie Bank launched proceedings in the same court this month to repossess the four-bedroom home McGovern inherited in 2004, perched in a quiet cul-de-sac in the north-eastern Melbourne suburb. The bank issued a default notice to the 60-year-old in May after he failed to make any of the monthly repayments. A Macquarie spokesperson declined to comment, citing the ongoing court case. McGovern's other residence, a Collingwood apartment purchased in 2013, was re-mortgaged by a private lender just two weeks before Macquarie filed its lawsuit. McGovern did not respond to questions sent by this masthead, including the curious timing of the February 26, 2024, loan. McGovern founded Dubber in 2011, which launched on the ASX in 2015 via a back-door listing. The tech company, backed by Melbourne billionaire Alex Waislitz, provides low-cost cloud-based phone recording and data harvesting software to a notable telco client list, including Optus, Telstra and AT&T. In July, Dubber sued McGovern and Madafferi over 39 payments of the Dubber cash they allegedly dished out to themselves and other figures, including gangland identities. In August 2021, $30 million was transferred to Madafferi's trust account to be invested in the term deposit – but Dubber has accused the men of never investing the money, instead forging documents to deceive the company's board members. It's alleged that on the same day the millions landed in Madafferi's account, the men immediately started transferring the funds, including a $200,000 payment to John Khory, Mick Gatto's long-time business partner and underworld figure; a $3 million transfer to a residential estate development in Geelong; and nearly $1 million dished out to companies associated with Mo Abou-Eid, a financial planner with ties to gangland identities. Some of the other payments recorded by Madafferi were detailed as: 'Supreme Court Litigation', 'Mortgage', 'ATO Compliance Enforcement Proceeding' and 'Family Law General'. The last of the 39 payments was made in April 2022 – a $50,000 transfer to McGovern. Madafferi and McGovern have not yet filed a defence. McGovern and Madafferi were barred from leaving the country after ASIC requested Federal Court Justice Mark Moshinsky to issue travel bans against the men while the watchdog investigated. An update on ASIC's case is expected in September, when lawyers for the corporate regulator will front the court for a hearing.

Sacked Dubber boss could lose multimillion-dollar home
Sacked Dubber boss could lose multimillion-dollar home

The Age

timea day ago

  • The Age

Sacked Dubber boss could lose multimillion-dollar home

Fresh court documents reveal that the day before the trading halt, McGovern took out a $1.9 million mortgage on his Warrandyte home. About the same time, Madafferi was emailing Dubber's board members, assuring them the money was locked up in the term deposit account that never existed, according to documents lodged by the company in the Victorian Supreme Court. Macquarie Bank launched proceedings in the same court this month to repossess the four-bedroom home McGovern inherited in 2004, perched in a quiet cul-de-sac in the north-eastern Melbourne suburb. The bank issued a default notice to the 60-year-old in May after he failed to make any of the monthly repayments. A Macquarie spokesperson declined to comment, citing the ongoing court case. McGovern's other residence, a Collingwood apartment purchased in 2013, was re-mortgaged by a private lender just two weeks before Macquarie filed its lawsuit. McGovern did not respond to questions sent by this masthead, including the curious timing of the February 26, 2024, loan. McGovern founded Dubber in 2011, which launched on the ASX in 2015 via a back-door listing. The tech company, backed by Melbourne billionaire Alex Waislitz, provides low-cost cloud-based phone recording and data harvesting software to a notable telco client list, including Optus, Telstra and AT&T. In July, Dubber sued McGovern and Madafferi over 39 payments of the Dubber cash they allegedly dished out to themselves and other figures, including gangland identities. In August 2021, $30 million was transferred to Madafferi's trust account to be invested in the term deposit – but Dubber has accused the men of never investing the money, instead forging documents to deceive the company's board members. It's alleged that on the same day the millions landed in Madafferi's account, the men immediately started transferring the funds, including a $200,000 payment to John Khory, Mick Gatto's long-time business partner and underworld figure; a $3 million transfer to a residential estate development in Geelong; and nearly $1 million dished out to companies associated with Mo Abou-Eid, a financial planner with ties to gangland identities. Some of the other payments recorded by Madafferi were detailed as: 'Supreme Court Litigation', 'Mortgage', 'ATO Compliance Enforcement Proceeding' and 'Family Law General'. The last of the 39 payments was made in April 2022 – a $50,000 transfer to McGovern. Madafferi and McGovern have not yet filed a defence. McGovern and Madafferi were barred from leaving the country after ASIC requested Federal Court Justice Mark Moshinsky to issue travel bans against the men while the watchdog investigated. An update on ASIC's case is expected in September, when lawyers for the corporate regulator will front the court for a hearing.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store