CARO MELDRUM-HANNA investigates the businessman ripping off hundreds of Australians this week on FOUR CORNERS

The Wolf of Woy Woy: The working-class investors duped by a man the regulators won’t pursue

When a smooth-talking businessman came to a working-class Australian suburb his promises of a better life were intoxicating.

Hundreds of investors believed him and bought shares in the mining exploration company he spruiked.

“We’re just battlers. You know we did what we thought was right, we were led to believe it was going to make money.”

Instead, almost all the battlers lost their hard-earned cash, for some their entire life savings.   

On Monday Four Corners reporter Caro Meldrum-Hanna goes in pursuit of the elusive businessman and the missing money people invested in his business, obtaining hundreds of internal company documents.

“It became more and more apparent that it was just a vehicle. . . to spend other people’s money.” Former employee

And we meet the company whistle-blower who says his complaints to Australia’s financial regulator fell on deaf ears.

“I blew the whistle. I raised the alarm, gave all the evidence through the proper channels and not even a phone call, email, nothing. I could have given them whatever they wanted. Not a peep from them.” Whistleblower

The Wolf of Woy Woy, reported by Caro Meldrum-Hanna, goes to air on Monday 29^th August at 8.30pm on ABC and iview

It is replayed on Tuesday 30^th August at 11.00pm and Wednesday 31^st at 10am. It can also be seen on ABC NEWS channel on Saturday at 8.10pm AEST, ABC iview and at abc.net.au/4corners.