The ongoing story of aged care operator George Snowden has brought him face to face with Westpac as the company sues Berkeley Living Group and Mr Snowden for more than $7 million.
The banking group allege he transferred more than $13m through accounts he controlled, one ‘owned’ by a dead person, in order to purchase two aged care facilities.
Mr Snowden claims he was able to draw down ‘substantial amounts’ of money to expand his company while Westpac ‘paid little or no attention to these anomalies’.
While the case is slugged out in court, three aged care homes from Mr Snowden’s portfolio and his Berkeley Living Group have gone into liquidation.