News

Jailed scammer tried to live as a recluse in Gympie

Lismore's Ronald David Williams entering Brisbane District Court to be sentenced over a dishonest investment scheme. Photo Rae Wilson / Newsdesk
Lismore's Ronald David Williams entering Brisbane District Court to be sentenced over a dishonest investment scheme. Photo Rae Wilson / Newsdesk Rae Wilson

A ONCE successful aviation businessman, jailed on Friday over a failed multi-million dollar investment scheme, had been living a "reclusive lifestyle" in Gympie to escape the shame of his actions.

Gary David Maile, 64, was sentenced to four years and three months jail after pleading guilty in Brisbane District Court to failure and dereliction of his duty as a company director.

He and co-accused Ronald David Williams, 46, will be released on parole after 16 months.

Maile, the Gympie Field Archers president, and Williams were jailed over a dishonest investment scheme they ran through their finance company, Selection One, on the Gold Coast.

When they went into voluntary administration, the men had debts of almost $21 million owed to 88 investors.

Commonwealth prosecutor David Henschell said there were 133 investors with $12.15 million owed to them at an earlier point.

He said the two men had promised investor money would be leant to third parties at 6% interest rate a month, which equated to about 72% a year, and in turn they promised investors about 3% a month in returns, about 36% a year.

"Essentially the profits generated were not going to cover the company's interest liabilities to current investors," he said.

"They were intentionally being dishonest".

Mr Henschell said the men took directors loans totalling more than $9 million - with $3.4 million repaid and $5.19 outstanding.

Defence barrister Tony Kimmins said his client would fly state ministers and high-profile businessmen around until he sold up and went to the Gold Coast to retire.

He said he invested a substantial amount of money into the business venture with Williams, as did his family and children.

"Everything was lost. He was made bankrupt," he said. "Because of the shame he felt in relation to the involvement in this matter, he moved away so he didn't have to face people.

"He has effectively lived, for the most part, a reclusive lifestyle in the Gympie area, except for the archery club.

"He and his wife reside in a shed on a bush block that is some distance out of Gympie. They live a simplistic existence and grow their own food."

Judge Richard Jones was quick to point out Maile was "not the only one who's lost his home".

"White collar offences such as these, involving ... high risks of loss to the public and are often largely difficult to detect, there is a strong basis for a sentence sending an appropriate message of general deterrence, to deter others from committing such offences," he said.

"There is no evidence as to where this money ended up. Also there is no evidence to suggest this money went into financing lavish lifestyles.

"One must never lose sight of the fact that the defendants' offending has had a devastating impact on those who invested in the company."

Gympie Times

Topics:  investment jail scam trial



Gympie attracts buyers looking for affordable seachange

Core Logic property statistics reveal the region's median house price dropped 3.4% to $269,000 in the September quarter.

Median house price drops 3.4% to $269,000 in the September quarter

A start to ambitious plan to take back the Mary River

BRINGING BACK OUT MARY: Bob Rivers of Chatsworth happy to see Gympie get back to the river.

Ambitious council plan to restore Gympie's use of the Mary River

Worst passengers: Are you one of these monsters?

Oh great, this guy is on my flight

This is why politicians fly first class.

Local Partners

Bushfire threat continues months longer than expected

UNSEASONALLY hot and dry weather has firefighters on alert as dangerous bushfire conditions extend nearly two months longer than usual.


EXCLUSIVE: The Amity Affliction's overdue homecoming

BACK IN TOWN: THe Amity Affliction play the Gympie Civic Centre on Friday night.

After 10 years away from Gympie, the local legends are back.

Puppetry of the Penis secrets revealed ahead of show

The famed Puppetry of the Penis is coming to the Sunshine Coast for shows in Noosa and Caloundra.

WARNING: This interview contains adult themes and traces of nuts

What's on in Gympie this weekend and next week for Australia Day?

Check out the Gig Guide for a couple of fun ideas for Australia Day, including a family friendly event at the Jockey Club Hotel.

All the action in Gympie for the Gig Guide this weekend.

Mark Salling's child porn court date cancelled

Mark Salling's upcoming court hearing has been cancelled

Steve Carell pulls cruel prank on fans of the office

Steve Carrell decided to pull a cruel prank on fans of The Office

Married at First Sight: M'boro dad to feature on reality TV

LOOKING FOR LOVE: Farmer Sean Hollands, 35, from Maryborough will feature on the upcoming new season of Married At First Sight.

A bull riding accident put everything into perspective for Sean.

Your chance to drive like Magnum P.I.

Tom Selleck in Magnum P.I. with his trusty 'side-kick' Ferrari.

FERRARI that appeared on classic detective show goes to auction.

Ocean Sleeper discuss being 'Six Feet Down'.

Ocean Sleeper make waves with their new EP. Photo Contributed

Gippsland band shines at Unify

Bowie's final music EP No Plan released

NEW: Artwork for David Bowie's posthumous 2016 EP, No Plan.

David Bowie's 28th and final album

Gympie attracts buyers looking for affordable seachange

Core Logic property statistics reveal the region's median house price dropped 3.4% to $269,000 in the September quarter.

Median house price drops 3.4% to $269,000 in the September quarter

HOT PROPERTY: Money to spend on land, buildings

File picture.

Sale, leasing of industrial real estate picks up in Mackay

Collapsed Coast company could owe up to $5 million

Staff, ATO, landlords among those out of pocket.

Ipswich block of dirt sells for $582 a square metre

JUST SOLD: A property on the Brookwater golf course sold for a record-breaking $612,000.

Property smashed 2007 record by close to $100,000

Sunday auction for historical home

Former Catholic school sure to attract spirited bidding

Ready to SELL your property?

Post Your Ad Here!