The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
20 DAYS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 500 ALREADY ATTENDING
20 DAYS UNTIL OUR FLAGSHIP CONFERENCE 500+ ALREADY ATTENDING
SECURE YOUR SPOTDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
8
print
Print
OtherMarisa WikramanayakeFri 10 Jun 22

Hopkins Put Investor Funds Into Crypto: ASIC

Sasha Hopkins who runs A Team Property and other companies is currently being investigated by ASIC.

ASIC investigators allege that property developer Sasha Hopkins converted investor funds into cryptocurrency assets as part of its examination into Hopkins’ A Team Property group.

ASIC is examining A Team Property, Hopkins and other related entities for contraventions of the Corporation Act.

ASIC also alleges that Hopkins provided personal financial advice to investors without a licence.

Hopkins has been involved with a number of collapsed property developments and liquidators allege breaches of his duties as a director.

Liquidators for six collapsed companies associated with Hopkins are facing claims from more than 130 investors for a total of more than $23.5 million in loans and interest.

Some were promised up to 50 per cent returns. 

Hopkins allegedly advised investors to move their superannuation into self-managed super funds and invest in volatile asset classes such as cryptocurrency, energy and foreign exchange trading.

Investors voiced their concern about Hopkins and A Team as early as 2016, with many posting to online property industry forums. 

Hopkins and A Team ran multiple seminars for potential investors advising them on how to invest, according to forum posts.

A Team’s current website also encourages visitors to sign up for calls with the A Team Senior Wealth Strategy Team to “help set yourself up, build financial freedom and maximise the current opportunities”.

It also asks people to note that they must earn at least $60,000 a year or have $110,000 in their superannuation.

Four of the collapsed companies lent $11.4 million to seven companies owned by another Melbourne-based property developer, Greg Shaw (not the current chief executive of Mulpha), who has not paid it back. 

The money came from $14.1 million raised from loans Hopkins took from investors via A Team Property Group.

Hopkins said it was Shaw who must bear the responsibility. 

“There has never been any dishonesty or ill intent on my part and I am continuing to assist the liquidators and ASIC,” Hopkins said. 

“It is Greg Shaw who needs to obey the County Court judgement against him and repay creditor funds. 

“It is Shaw who needs to be held to account.”

In February this year, Shaw’s Luxe Advisory and Insert Capital Pty Ltd were ordered to pay back $4.1 million to Hopkins’ Hunter Capital Investments and Hunter Capital Investments 3 Pty Ltd.

Shaw owns 50 per cent of Luxe Advisory and 92 per cent of Insert Capital Pty Ltd. 

Last week, ASIC froze Hopkins’ assets and Hopkins was ordered not to leave the country until noon on Monday but the order was amended allowing him to leave from June 10 for a planned vacation in Europe. 

He will face severe penalties for not returning to the country by July 13 this year and surrendering his passport to the Federal Court.


ResidentialRetailAustraliaSector
AUTHOR
Marisa Wikramanayake
The Urban Developer
More articles by this author
ADVERTISEMENT
TOP STORIES
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Molti chief Ben Teague out front of 32 Mercer Road Aramadale (rendering)
Exclusive

Buy to the Sound of Cannons: Molti’s Counter-Cyclical Move to Melbourne

Leon Della Bosca
5 Min
View All >
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
Kangaroo Point Aria Canopy House Revised DA Approval hero
Development

Aria’s Revised Tower Greenlit for Inner-City Kangaroo Point

Phil Bartsch
Warren and Mahoney's rendering of Leftfield's project at 691-693 Burke Road, in Melbourne's Camberwell.
Residential

Leftfield Lifts Cover on 14-Storey Scheme at Camberwell

Marisa Wikramanayake
The 57-apartment proposal at Camberwell comes as Melbourne’s move toward densification gain pace...
LATEST
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Kangaroo Point Aria Canopy House Revised DA Approval hero
Development

Aria’s Revised Tower Greenlit for Inner-City Kangaroo Point

Phil Bartsch
3 Min
Warren and Mahoney's rendering of Leftfield's project at 691-693 Burke Road, in Melbourne's Camberwell.
Residential

Leftfield Lifts Cover on 14-Storey Scheme at Camberwell

Marisa Wikramanayake
3 Min
Hotel

Perth Hotel New Role Revealed After $105m Sale

Lindsay Saunders
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/hopkins-put-investor-funds-into-crypto-asic