Was Terry Serepisos duped?
Terry Serepisos still hopes that Western Gulf Advisory - controlled by Ahsan Ali Syed (among other things, the owner of a bankrupt Spanish soccer team) - will arrive as promised, and solve his debt crisis.
But across the Tasman, Sydney developer Keith Johnson, who paid up front fees of over $4 million to WGA for a loan that never eventuated, told the Sydney Morning Herald he thought the Swiss-based lender was a fraud.
Has Mr Serepisos been duped as well?
Clickthe image below to watch NBR's Matt Nippert discuss the property developer's $100 million "loan" on TV1's Close Up (note: video requires Adobe Flash so will not display on all devices. A Windows Media Player vesion is also available via TVNZ's site).