Queen of the Pilbara Veronica Macpherson cops ban from ASIC
ASIC has permanently banned Desiree Veronica Macpherson from providing financial services.
ASIC found that in relation to Ms Macpherson’s involvement with the development and promotion of the Newman Estate Project in the Pilbara region of Western Australia that Ms Macpherson had engaged in misleading and deceptive conduct, that she was not of good fame or character, that she had engaged in dishonest conduct and that she was involved in a contravention of financial services laws.
Ms Macpherson has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.
ASIC’s investigation is ongoing.
Macpherson was last in the news earlier this year when she was contemplating publishing a book.
Veronica Macpherson, once the head of the collapsed Macro Realty Group, gave the a book a working title, "The Great Australian Ponzi".
Her Pilbara property scheme fell over leaving thousands of investors owed millions in 2015. But bizarrely she suggests there could be a happy ending.
The local media indicated she would launch the book in April featuring "political backflips, errors, mismanagement of the Australian economies — suicides, nasty threats and wild accusations."
Ms Macpherson says it was a book "to get the truth known".
Featuring the Pilbara Cities that were meant to be, she will be pedalling the line that "ASIC was their own worst enemy."
"One of my sayings is that ‘I am a big fan of the truth’ and unfortunately many people have been left wondering what the truth of the matter actually is with our Pilbara developments," she suggested.
In online material advertising the book, Ms Macpherson was using a picture of herself with Gina Rinehart, believed to have been taken at the CEO Magazine’s Australian Executive of the Year awards in late 2015.
That photograph posted alongside the book title was causing some consternation amongst Ms Hancock’s inner circle yesterday.
A spokeswoman for Mrs Rinehart confirmed to the Perthnow website that the event was the only time the two had ever met.
Mrs Rinehart had no business relationship with the would-be property developer and accused Ponzi queen.
Macpherson, in a five-page letter to “investors, affiliates and associates” sent out under a Macro Investments and Securities letterhead, also contemplated the establishment of a “Pilbara Cooperative” which she claims could provide hope to her many investors.
“The media has not bothered to showcase our past successes, but don’t worry there will be many more through this collaborative structure and great, like minded individuals,” the letter advises.
Macro Realty Developments’ former brand ambassador was former rugby champion, David Campese.