194 Pitt Street Hoax: 4 – NAB loan banPosted: August 2, 2017
It’s not really a surprise that the promised benefits from 194 Pitt Street never materialised.
The extensive work required to make the building usable was never going to happen.
And Guilfoyle and the Committee knew it was never going to happen.
This is the part of the 194 Pitt Street fraud that is not widely known.
Why was it never going to happen?
Because after buying it, the Club had no money to pay for the work.
But NAB also told them they would not lend any money to do the work.
Yes, NAB told Guilfoyle and the Committee that they would not lend any money to do the necessary work.
So there was no money, and therefore no chance of the extensive building work ever happening.
This did not matter in the slightest to Tony Guilfoyle, because his only reason for buying it was for a future property development.
But it did mean that the promises to members about 194 were a sham.
City Tatts Information Desk