Alleged Pilbara property ponzi queen has passport siezed

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As the tide goes out, yada, yada, yada, from The West:

Veronica Macpherson, the boss of what financial regulators allege was a massive Pilbara Ponzi scheme, has been ordered by a court to spend no more than $800 a week on herself as it emerged her group of companies now allegedly owes investors, financiers and creditors at least $250 million.

As the companies comprising Ms Macpherson’s floundering property empire were officially shut down this week, ASIC documents revealed the staggering debts allegedly faced by the once high-flying entrepreneur.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.