A former Gold Coast property developer has failed to show up to be sentenced for 13 dishonesty and fraud offences because he’s anxious.

June 7, 2019

A former Gold Coast property developer is too anxious to be sentenced for fraud following the 2011 collapse of his $9 million investment scheme targeting pensioners.

Bradley Keith Silver was due to be sentenced on Friday after admitting 13 dishonesty charges related to fraud and his duties as a company director.

But he didn’t show up at Brisbane District Court.

Instead he went to Robina hospital suffering acute anxiety, his lawyer, Winston Terracini, told the court.

Silver’s symptoms included chest pains and “not being rational”, Mr Terracini said.

Judge Deborah Richards was told it was unlikely Silver could make it to the court on Friday even if doctors determine he is healthy enough to leave the hospital. 

The earliest Silver could be discharged is 3pm, the lawyer said.

“(He must have) a slow-moving car,” Judge Richards said.

She told Silver’s solicitor to go immediately to the hospital and oversee the situation.

Silver was arrested at Brisbane Airport in 2017 following an Australian Securities and Investments Commission investigation into his property development scheme, which was named All About Property Development.

The corporate watchdog had alleged many of the investors were pensioners who’d been approached by telemarketing or word of mouth.

ASIC said they were convinced to borrow against their homes and told the money would be used to develop property in Tasmania.

In some cases, the investors were promised 15 per cent or 20 per cent returns.

Instead, the money was used to pay back interest owed to other investors, payments to employees, cash withdrawals and transfers to personal bank accounts.

Silver gave false monthly statements to his clients to hide his deception and make them think their money was being properly invested, ASIC alleged.

In March, Silver pleaded guilty to the 13 fraud and dishonesty charges, which relate to $4.77 million and 12 former clients – the oldest an 82-year-old man. 

Judge Richards adjourned the matter until 3.30pm on Friday.