Aug 7, 2026 – 4.00pmIncome Direct, a fund which raised as much as $70 million from mum-and-dad investors and placed some of that money with companies run by banned spruiker James Mawhinney, has collapsed, with administrators urgently investigating the operation’s financial affairs.Balance Insolvency was appointed to three related companies including Income Direct, Settlement Holdings and ID Client Facilities, which are all associated with asset manager Marbanc International.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Funds tied to Mawhinney’s new ventures call in administrators
Balance Insolvency was appointed to three related companies including Income Direct, which had raised as much as $70 million from mum-and-dad investors.
88 words~1 min read
