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Deja Vu
5 October, 2009  

Aleco Vrasakis, one time dazzling orb at Blake Dawson Waldron, caught in Rothwells crunch … Defence fund set up to pay his fines and costs … Heady days

From Justinian, July 1992

Family and court case to feed

I sincerely hope all subscribers to my organ have paid in their contributions to the Aleco Vrisakis Defence Fund.

Support is needed more urgently than even now that the famous adviser has been found guilty of failing to exercise due care and diligence as a director of that dazzling ornament to “merchant banking”, Rothwells Ltd.

He was fined $4,000 in the Perth Magistrates Court, and ordered to pay $25,000 in costs. All up the case has cost Vrisakis $162,300.

Magistrate Valerie French [whose hubby went on to great things] said that Vrisakis had been “highly paid in one way or another” but had failed in his statutory duty.

imageHe has indicated an intention to appeal and consequently every penny is urgently required.

(Pic, a recent snap of Vrisakis cutting a cake as patron of the Rylestone Kandos District Dog Club.)

The fund is being organised by former Wardley’s high-flyer James Yonge, and is managed by Tony Sherlock at Coopers & Lybrand.

Cheques to the fund should be made payable to “AG Sherlock and J Yonge”, but must be accompanied by a form of attestation which Yonge can provide to you on demand.

Yonge is absolutely outraged about these charges against the famous Aegean lawyer and decided that Aleco needed all the help he could get.

It is not certain whether Vrisakis’ properties at Cowra and Grafton have had to go under the hammer to pay legal bills, let alone the residence at Hunters Hill plus other slabs of investment real estate, or indeed whether the $250,000 in Rothwells director’s fees or the $500,000 in interest free loans will need to be tapped to finance the legal expenses.

These days Aleco is no longer on the Blake Dawson Waldron consultants’ list, but is still a consultant to Adelaide firm Thomson Simmons and has his shingle out in Carrington Street, Sydney.

And I know there will be an enormous amount of support for Wardleys in the case brought against it by the Western Australian government over money lost in the Rothwells rescue.

Martin Bennett, who shot to national fame with his press conferences on behalf of the delightful Rose Hancock, is acting for Yonge.

The sensitive manner in which Mr Bennett described to the reptiles of the media Rose’s pill popping addictions and the way Lang caller her to his bed, almost with his last gasp, should earn him an award from the Public Relations Institute.