Pendlebury’s former manager hits back at pilfering claim

3 months ago 4

Collingwood legend Scott Pendlebury’s former manager has hit back at claims he pilfered millions from the two-time premiership player’s bank account, saying he has the WhatsApp messages to prove things were all above board.

Pendlebury launched legal action last month in the Supreme Court of Victoria against his former manager Jason Sourasis, alleging $2.15 million of his money had been misappropriated while he was a client and other cash had been borrowed but never repaid.

One of the stars of the AFL, Collingwood’s Scott Pendlebury, has launched legal action in the Supreme Court of Victoria.

A key plank of Pendlebury’s near $3 million claim was that Sourasis took the money without his knowledge or permission over 70 transactions between 2015 and 2023 and that Sourasis’ financial planning group had a duty to act in his best interests.

Pendlebury alleges his cash was used to fund Sourasis’ development projects in Seaford and Tarneit as well as other investment projects.

This week Sourasis, a former AFL player manager and founder of embattled A-League club Western United, responded to the lawsuit via a stinging defence that claims Pendlebury was told of each transaction via WhatsApp messages or in telephone conversations.

Sourasis alleges in one WhatsApp message exchange he advised Pendlebury on an unspecified date that he had invested $2.8 million of the football star’s money in a Western Melbourne Group company, Sayers Road, and that investment was now worth $4.4 million.

“Awesome! This is elite,” Pendlebury responded, according to court documents.

Sayers Road is tied to Sourasis’ Western Melbourne Group project – a group of companies proposing a public-private partnership to develop a sprawling sporting, entertainment and health complex on Melbourne’s western fringe that would become the home of the financially stricken A-League team.

The Australian Taxation Office, which is owed millions by Sourasis, has been trying to put Western United and other Sourasis entities tied to the public-private partnership project into liquidation over unpaid debts, jeopardising the development plans.

Sourasis also claims that Pendlebury agreed to transfer his investments in Sourasis’ property development project on Seaford beach into the Western Melbourne Group project.

“Happy to roll that $1.5 [million] across and capital gains means we are making money so no qualms here,” Pendlebury said in a WhatsApp message.

Pendlebury has also claimed in his lawsuit that he lent Sourasis $300,000 but the money was never repaid despite his ongoing requests.

In response to that allegation, Sourasis agreed he had taken the loan from his client to help pay for project debts and had intended to return the cash.

“On 14 March 2023, there was a telephone a conversation between Messrs Pendlebury and Sourasis, during which Mr Sourasis requested, and Mr Pendlebury agreed, that Mr Pendlebury would transfer $300,000 to meet liabilities associated with the Western Melbourne Project, of which Mr Pendlebury was an investor,” lawyers for Sourasis claimed in the court documents.

Jason Sourasis has rejected the allegations against him.

“ On 14 March 2023 following the aforesaid conversation, Mr Sourasis sent a text message to Mr Pendlebury which stated ‘Plan is for the money to go in tomorrow and take it off the table with the profit in April. This $1m we’re putting in will be the last capital call for WMG [Western Melbourne Group] before Johnson Controls and Watpac come in!’” the claim adds.

Sourasis said his plan was to repay Pendlebury with the money from a new investor brought into the project, but that deal fell over. He said that in a telephone conversation after the deal fell over Pendlebury had agreed to remain in the project.

While Sourasis’ defence filing only includes a handful of text message exchanges between him and Pendlebury, he says he can provide the court with all relevant messages at a later date.

Sourasis also says copies of financial statements and tax returns, signed by Pendlebury, which record profits the AFL player received from the investments and the size of his current holdings in various projects, could be produced on request to support his defence to the claim.

It is unclear from the court documents whether Pendlebury already has these statements. Financial planning groups are legally required to keep their clients fully informed of their investments.

Sourasis’ financial planning group, Strategic Financial Group Australia, which is a defendant to Pendlebury’s claim, was placed into liquidation in August by the Federal Court on request from the ATO over unpaid debts.

A report from liquidators to Strategic Financial filed last month said their investigation into the collapse of Sourasis’ business was ongoing and noted they had not received the full books and records for the company at the time of preparing the report.

The ATO is also looking to liquidate Sourasis’ A-League club, Western United, and another company that forms part of the Western Melbourne project.

Last month, Sourasis put his personal investment group, Jaszac Investments, into administration, with debts of $36 million, the bulk of which is due to a Melbourne businessman.

Start the day with a summary of the day’s most important and interesting stories, analysis and insights. Sign up for our Morning Edition newsletter.