Frustration for Banksia investors as fraudulent lawyers declare bankruptcy

Caleb Cluff
Updated November 22 2021 - 2:55pm, first published 12:00pm
Bankruptcy declared: the collapse of Banksia Financial Group led to debenture holders being owed millions of dollars.
Bankruptcy declared: the collapse of Banksia Financial Group led to debenture holders being owed millions of dollars.

Two lawyers who schemed to relieve Banksia debenture holders of a court payout by concocting an 'egregious and fraudulent' class action have declared bankruptcy after being ordered to pay millions in compensation.

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Caleb Cluff

Caleb Cluff

Senior Journalist, The Courier

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