House-flipping king Rickhil Prakash allegedly withdrew as much as $6 million out of his own companies prior to their collapse, liquidators claim.Now liquidator…
NZ Herald ·
bout time these property spivs get what's comin. Rickhil's been living large off other people's money for years. glad the liquidators are finally chasing him down!
yeah nah, I don't get how you can just 'withdraw' $6m from a company that's about to collapse. must be nice to have that kind of access.
reckon he's probably already shifted it offshore. these guys always have a plan b.
mate I can't even get my bank to approve a $500 overdraft but this bloke casually pulls out millions. system is a joke.
get stuffed, the guy's a crook plain and simple. hope he gets what's coming.
so total debt is $31.5m now. that's like... a lot of houses. how does this even happen without anyone noticing?
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yeah nah I'm with you. rules for the rich eh?
lol imagine being chased for $6m and being like 'nah sorry bro I spent it'. liquidators ain't muckin around though.
honestly I'm surprised it's only $31.5m. feels like there's always more hidden debts.
always the same story, someone makes a fortune flipping houses, crashes and burns, and the taxpayers get left holding the bag. bloody shame.
wonder how many tradies and suppliers are left unpaid. those are the ones who really get stitched up in these things.
facts, my uncle owns a small electrical business and he's still waiting on payment from hills. solid people getting done over.
ffs this is why I don't trust property developers. once the market turns they just bail and leave everyone else to clean up the mess.
