Lyn Newby says she feels betrayed by her grandson, who she trusted.
She claims that three years in the past, she and her husband invested greater than $320,000 into Jack Endersby’s buying and selling business, Codex Investments.
“He kept giving me very good reports about how it was going,” Newby advised 9News.
“I was so proud of him living in the Crown Towers, in the Ritz Carlton, driving a nice car and he had a posh office.”
The 24-year-old loved his lavish life-style till he was charged 4 days in the past with allegedly operating a Ponzi scheme.
He’s accused of receiving about $2 million from victims throughout Australia.
“He has ruined our lives,” Newby stated.
“How could he do it to me – I’m his grandmother. He loved me, I loved him.”
In 2020, Endersby boasted of managing a portfolio of about $2.2 million.
Over three years from 2021, police allege he entered into a number of contracts, promising purchasers a month-to-month return of three per cent by investing their cash on the inventory alternate.
Newby stated she was warned by family to be cautious however did not suspect something fallacious till mid-last yr when the month-to-month returns stopped.
“I didn’t have a clue,” she stated.
After listening to the news of the alleged fraud, Newby texted Endersby: “Is it true? Is there anyway you can salvage my money?”
He stated: “No it’s not true, I have it sorted for you. See you Tuesday.”
“My mind just went crazy,” Newby stated.
“I had no idea that he would do something like that to me, his grandmother.”
Endersby is dealing with 11 counts of gaining a profit by fraud.
The 24-year-old is because of seem right here on the Perth Magistrates Court on Friday, the place he’ll come face-to-face along with his heartbroken grandmother.
“He will feel terrible when he sees me and I want him to look at me in the eye and know how much he’s hurt me,” Newby stated.
Source: www.9news.com.au
