Ailing father's millions lost
THE family of a Kilkivan farmer who sold his Noosa Hill property for a fortune is demanding to know where his millions have gone.
Banana grower Roger Hack sold his property overlooking Hastings Street in 2003 to a resort developer for $27 million.
According to his children, Rosemary and Richard, Mr Hack barely had a cent to his name when he “came into” the fortune. However, Mr Hack's memory had been noticeably ailing and, in the years that followed, deteriorated quickly.
Now 80, he is suffering from advanced dementia.
Mr Hack's children claimed that as their father's condition worsened, those around Mr Hack turned him against his children, who had moved interstate.
Both Rosemary and Richard said one of his advisors, who for legal reasons cannot be named, told them they were not permitted to see their father.
After they demanded to see Mr Hack, a domestic-violence order was taken out against them, making it illegal to contact their father. Mr Hack's children said a number of people took over his financial affairs.
The family became concerned when Mr Hack's finances were spread across 26 trusts and six companies, despite him originally wanting to have his finances simplified.
Last month, in a hearing of the Queensland Civil and Administrative Tribunal, Mr Hack's affairs were taken over by the Public Trustee of Queensland.
Further investigations by the family suggest Mr Hack has been left with very little.
The office of the Public Trustee could not comment.
“In his name, dad has a unit in Noosa and a house at Kilkivan and $2800 in the bank,” Rosemary said.
“The unit and house have been valued at more than their market value. Dad is also beneficiary to $10 million.”
But the family says they have not been able to establish where it is.
“What we want to know is, what happened to the rest of the money,” Rosemary said.
At the hearing, Mr Hack started crying when he saw his children, embracing them and asking why it had been so long since he had seen them.
Both are now permitted to visit their father in Kilkivan, where he receives full-time care that is believed to cost $180,000 a year.
The Adult Guardian is assessing Mr Hack's health to evaluate his needs.
Mr Hack's will has remained undisclosed to his children even though it was understood by the family his wealth was to be divided equally between them.
“I feel like I've lost my father, but he's still alive. The issue for us isn't the money,” Richard said, adding that he just wanted to ensure his father's interests were looked after.
The advisers were contacted but refused to comment on Mr Hack's financial affairs.