Barry John Patrick - Peter Drake

	A	B	E
1	Comparison Between Barry John Patrick's 1m$ Property Ponzi and Peter Drake's LM_MPF 350m$ Property Ponzi
2		Barry John Patrick	Peter Drake
3	$ Size	$1m	$350m
4	# Investors	14	4500
5	ASIC licensed	No	Yes
6	Years of Operation	3	5 (during it's ponzi era)
7	Period of Operation	2007-2010	2008-2013
8	Misconduct	Obtaining property by deception	Fraudulently promoted as low risk to a predominantly risk averse population. In the aftermath of the FMIF failure LMIM promoted the MPF that operated in the same property market, and in some cases in the same projects, largely predicated on higher risk 2nd mortgage positions.
9		Otaining financial advantage by deception	Cavalier approach to project selection and financial position adopted exemplified by the reckless commitment of over 60% of the MPF capital to the Maddison Estate.
10		Theft	Apparent criminal abuse of fiduciary responsibility evident in multiple breaches of trust of which it is suspected 'Peregian Beach' is "the tip of the iceberg"
11		Running a financial services business without a license	Personal and other (Hong Kong) company loans translate to shameless embezzlement of investors money.
12			Massive audited accounts asset valuation discrepancies
13			Seriously questionable due diligence and risk profiling exhibited by advisors and bond providers
14			Outrageous attempts to move funds out of creditors reach as LMIM collapsed.
15			Determined to have been trading whilst insolvent
16	Other Information		Gross regulatory negligence by ASIC before during and after the collapse
17		http://goo.gl/DJ0Hwt	http://goo.gl/WRpqub
18	Being Prosecuted by ASIC / CDPP	Yes	No
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