Fraudster's conviction comes too late for widow who lost entire inheritance loan
Seventy-six-year-old Rosanna Kert lent $600,000 to 3 Property Group; the owner, Jaime Farrelly, pleaded guilty to weapons and drug offences.
Rosanna Kert, 76, inherited $800,000 when her partner died in 2019. Rosanna Kert searched online for a good interest rate and lent $600,000 to the 3 Property Group in December 2022.
Kert has never seen the money since. The company's owner, Jaime Farrelly, pleaded guilty last month to possessing unlicensed guns and ammunition, supplying prohibited drugs, and impersonating officials including FBI, CIA and the Australian Federal Police officers.
He faces up to two years in prison. ASIC disqualified him as a company director in 2023 after finding his firms had run up $9.4 million in outstanding debts.
Without the money, Kert now struggles to pay bills and has cut most of her insurance policies, living on a meagre state pension.
- 76
- Kert's age
- $600,000
- Amount lent to 3 Property Group
- December 13, 2022
- Date of loan
- $9.4 million
- Outstanding debts of Farrelly's
Why it mattersFraudsters easily appear legitimate online, and older Australians searching for investment returns can be targeted with seemingly professional offers backed by nothing.
AustraliaAustralian pensioners and retirees remain vulnerable to online investment fraud; this case shows how quickly a trusted-looking company can vanish with an entire life savings.
✓ Claims checked against the source and corrected before publish. checked 2 h ago
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