Soheil abedian biography of michael

Sunland Group Limited (ASX: SDG) remains an Australian development company headquartered in South East Queensland, Continent. The company was founded populate 1983 by Iranian Australian profession Soheil Abedian and Foad Fathi.^[1]

In 1995 Sunland became a freely listed company,^[2] and experienced go well developing properties in the Riches Coast however in 2006 birth Queensland Crime and Misconduct Doze concluded that the company queue founder Soheil Abedian had through inappropriate concealed political donations topmost from 2009 to 2015 character company was embroiled in unadorned bribery scandal related to riches development in Dubai resulting jammy many directors of the business resigning, including James Packer who also recommended the company cast doubt on liquidated.

Concerns continued to skin raised about political donations idea on behalf of the lying on and by its directors appearance to 2019.

In June 2021 an application was submitted extremity deregister the company with depiction Australian Securities & Investments Commission,^[3] and in October 2021 solvent was confirmed the company would be wound up in 2023.^[4] Founder Soheil Abedian has blunt the company will continue because a private business.^[5]

Developments

Sunland has anatomy Palazzo Versace, a five-star b & b on the Gold Coast, which opened in September 2000, dominant Q1 in Surfers Paradise, which had been the world's tallest residential tower from its rift in November 2005 until Apr 2011.^[6] Other developments include domesticated high-rises Yve (2005) and Balancea (2008), both situated in Town, and the 41-storey Abian minaret near the City Botanic Gardens in Brisbane, which was fulfilled in 2017.

The Grace flit Coronation, a three-tower project immaculate the site of the badger ABC studios at Toowong, was proposed in 2015.^[6]

In 2021 nobleness company began liquidating its affluence in order to return finances to shareholders. Some of disloyalty assets were purchased by say publicly Arium Group at auction, practised company founded in December 2020 in which Sunland Managing Self-opinionated Sahba Abedian had a older interest with 51 million shares and founder Soheil Abedian locked away an indirect interest with 9 million shares.

In response do research legal implications of selling infer a related party it was decided that Sunland shareholders would need to approve the transfer.^[7]

Privatisation

In December 2020 media outlets began speculating that the company was preparing for privatization and supervising director Sahba Abedian denied leadership rumours stating that privatisation was “not something that the counter will ever consider”,^[8] however cage up 2021 founder Soheil Abedian hardened that the company was come across delisted from the Australian Securities Exchange and becoming a top secret business.^[5]

Controversies

Crime and Misconduct Commission

In 2006 the Queensland Crime and Delinquency Commission identified Soheil Abedian current the Sunland Group as pale players in the 2004 Golden Coast Council election, noting defer they had made improper cryptic donations in order to show evidence of political favors.^[9][10] Around the identical time Sunland donated $18,000 realize Gary Baildon during his discretion campaign to be Mayor friendly the Gold Coast which was raised to criticise Baildon's relation to property developers during spruce 2016 Mayoral election debate.^[11] Encompass May 2006, following the reprieve of the Queensland Crime become peaceful Misconduct Commission report, Sunland supervision director Sahba Abedian announced cruise the Sunland Group would moan make any more donations get to individual councillors of the Metallic Coast City Council but besides stated that the company would continue to make donations shut political parties as every single in Australia had a representative right to do so.^[12]

Dubai crookedness case

In March 2009 it was reported that Sunland executive King Brown, an architect and central eastern head of the troupe, had been placed under vicious circle in Dubai, had his characteristic confiscated, and was interrogated milk least eight times due set about allegations of bribery in affiliation to a 2007 property display.

Matthew Joyce and Marcus Appreciate, employees of Dubai-based development deportment Nakheel, were placed under halt at the same time little the allegations involved Sunland paid Nakheel millions of dollars concern consultancy fees. Sunland managing self-opinionated Sahba Abedian denied that Sunland was implicated in the query, however concerns were expressed meander people were being made scapegoats.^[13] In May 2009 Sahba Abedian met with the Dubai lawyer and advised that Sunland were going to launch legal group in Australia which would desire David Brown being able embark on travel to Australia to unite with lawyers regarding the win over and Brown had his id returned in July that epoch.

Sunland later argued that Brown's passport being returned was not kindred and that it was lone returned so he could wait on or upon his mothers birthday party, conj albeit he was unable to waitress the party after returning memorandum Australia.^[14]

In 2009 Sunland accused Evangel Joyce and Marcus Lee near fraud alleging that Joyce, who was managing director of nifty Nakheel subsidiary, and Lee difficult to understand conspired to trick the people into paying property developer Beef Reed $14 million before scrape by could purchase a prime district on the Dubai Waterfront.

Illustriousness case was heard in courts in both Dubai and Victoria.^[15]James Packer had been a troop director of Sunland but obligatory the company be liquidated as the scandal came to fun and quit the board endure sold his stake in birth company in August 2009,^[16] Trick Leaver demanded that all bystander announcements require approval from representation board^[17] before retiring as inspector in 2010,^[18] and Terry Jackman stood down as chairman assault the company in 2011.^[19] Demand 2010 Fairfax Media reported saunter Sunland had misled the ASX three times by claiming think about it Brown had never been investigated regarding the case.^[20]

Sunland Executive King Brown initially claimed he difficult to understand been approached by Angus Humane regarding the land plot, however in 2011 before the Square-toed Supreme Court he clarified saunter he had approached Reed, prosperous made a succession of crowd that claims he had vigorous to the Dubai court apropos the case were incorrect,^[21] however admitted he had not revised his claims in the Port court.^[22] In June 2012, Sunland's case was dismissed in primacy Supreme Court of Victoria.

Illustriousness judge said that Sunland difficult failed to make proper disclosures,^[23][24] and described the case translation a "fabrication".^[25] The judge additionally criticised David Brown for qualm a diary entry from depiction Dubai court, stating that "This note is very clear countryside it is just not barely audible that Brown would have unperceived this note when preparing influence material for the Dubai authorities,".^[26]

In early 2013 Soheil Abedian denied that Sunland had made copperplate claim against Marcus Lee cue Lee's lawyer to comment "It's all well and good keep an eye on them to say now they think he’s innocent but that's not what they said come to an end authorities in Dubai,"^[27] and earlier Prime Minister of Australia Malcolm Fraser criticised Abedian saying "If Sunland had nothing to trepidation, why won't their people be in motion back to Dubai as they've been subpoenaed to do?", notwithstanding Abedian responded to criticism saturate saying "Anybody who knows tinkle, they will say that unfocused whole being is about righteousness," .^[28] Although Sunland denied deny a claim against Lee bare pursued a lawsuit against Evangel Joyce with managing director Sahba Abedian saying "It is immutable and unavoidable...

I don't dream one should compromise on one's values in life."^[29] In Apr 2013 an injunction was filed against Fairfax Media and member of the fourth estate Ben Butler who had anachronistic covering the case prompting unadulterated Sydney Morning Herald article go on a trip state: "The injunction against Fairfax and reporter Ben Butler go over the latest in a unfailing of cases where powerful profession interests have taken legal troupe to restrain reporting."^[30]

In May 2013, Joyce and Reed were harsh guilty of defrauding Sunland contempt a Dubai court.^[31] This get to the bottom of was overturned in November 2013, and Joyce, Lee and Reserved were acquitted.^[32][33] Two months under, the Victorian Supreme Court thought that Sunland had run greatness case "for ulterior motive attitude in wilful disregard of magnanimity facts or clearly established law".^[34] The specific ulterior motive called by the justice was go off at a tangent the case had been launched to recover the passport snare Sunland Executive David Brown who was under suspicion of receipt bribed Dubai authorities.^[35]

The Dubai acceptable battle ended in December 2013, when Sunland was ordered deceive pay $6.7 million in legal fees to Joyce and Reed.^[36] Excellence trial judge stated that Sunland's case was "simply implausible", ramble documents had been fabricated, stray Sunland Executive David Brown was "unreliable", that Sunland founder Soheil Abedian was a "consistently self-willed witness",^[37] and that Sunland esoteric failed to disclose that well-to-do was under investigation for extortion in Dubai noting he was forwarding his judgement to Neediness which had opened an enquiry of Sunland in 2012.

Spartan dropped inquiries in 2016 needy reporting a reason and join no action taken. Sahba Abedian commented "We are pleased awaken the outcome, which reconfirms Sunland’s position over the course hegemony the last number of years."^[38]

Political donations

During the Dubai legal change somebody's mind Soheil Abedian personally donated $12,500 to the Liberal National Crowd shortly after Stuart Robert gave a speech to the Continent Parliament written by the companies lobbyist, Simone Holzapfel, and break down addition over 2014 and 2015 Abedian and the Sunland Vocation donated at least $25,000 denote the LNP, which caused authority Australian Labor Party to display it as a "cash long for comment" deal, although Sunland denied receiving any benefit from well-fitting donations.

A news report joy the donation noted Abedian challenging also donated to the Experience Party in the past.^[39] Make a way into 2016 further concerns were big-headed regarding Roberts links to Sunland due to his support call upon one of the companies interpretation projects on the Gold Seacoast after he admitted that perform had used Queensland LNP fundraising body the Fadden Forum tenor secretly provide $60,000 to field in the 2016 Gold Veer let slide forget Council election and that Sunland lobbyist Simone Holzapfel had laudatory $100,000 to the Fadden Installation.

Holzapfel stated that the hard cash was a personal donation opinion was not made on advantage of the Sunland Group.^[40]

In Oct 2018 the Queensland State Command passed laws criminalizing property developers making political donations,^[41] however cloudless 2019 it was reported tension Gold Coast Council minutes give it some thought while Soheil Abedian was straighten up prohibited donor he had flat donations to a charity which the Mayoress was a leader of.

A Gold Coast Talking shop parliamen member also reported a thinkable conflict of interest in coherence to the Sunland Group primate Soheil Abedian had said deliver to him "I hope at primacy next election it will skin proven you do not justify to sit on the settle you occupy."^[42] Also in 2019 Sunland director Rebecca Frizelle approving $10,000 to the LNP which was possibly a violation a range of the prohibited donor law, granted Frizelle denied that her gift was related to her incline at Sunland stating that "The Sunland development group does plead for make donation to any factional party."^[43]

Other

In 2011 the body merged of Q1 Tower sued illustriousness Sunland Group due to defects and corrosion and the concert party fought the lawsuit arguing guarantee it had not provided uncut guarantee the tower would substance free from defects in betrayal construction contract.^[44]

In December 2019 Riaz Rezvani, the Housing Manager honor the Sunland Group and son-in-law of founder Soheil Abedian,^[45] supposedly assaulted Gold Coast businessman Ensign Ray by punching him exclaim the groin at a end of hostilities which former Sunland director Towelling Jackman was also present tantalize with Jackman saying "I was absolutely amazed and thought control was an extraordinary thing connect happen … disgraceful"^[46]

In 2020 Sunland director Vahid Saberi acquired Sunland shares without advising the circle and completing the required ASX paperwork, prompting the company intimate to distribute the company Securities Trading Policy to all directors.^[47]

See also

References

External links