[U/C] 316-320 South Terrace | 51m | 14lvls | August Towers

All high-rise, low-rise and street developments in the Adelaide and North Adelaide areas.
High Rise Poster!
Posts: 130
Joined: Sat Jan 30, 2016 5:11 pm
Has thanked: 12 times
Been thanked: 15 times

[U/C] Re: 316-320 South Terrace | 51m | 14lvls | August Towers

#241 Post by noted » Thu Aug 15, 2019 8:23 am

Not sure of the inside, but they butchered the outside pretty badly. I am fairly certain the verandah was still intact before they started construction.

https://www.realcommercial.com.au/prope ... -503291894
Last edited by noted on Thu Aug 15, 2019 10:53 am, edited 1 time in total.

VIP Member
VIP Member
Posts: 6695
Joined: Mon Dec 19, 2005 11:46 am
Location: Adelaide
Has thanked: 263 times
Been thanked: 1068 times

[U/C] Re: 316-320 South Terrace | 51m | 14lvls | August Towers

#242 Post by Ben » Thu Aug 15, 2019 9:02 am

There is a new application to complete the top three levels. not sure who owns them at this point.

Legendary Member!
Posts: 510
Joined: Sun Jul 15, 2007 5:51 pm
Has thanked: 13 times
Been thanked: 63 times

[U/C] Re: [U/C] Re: 316-320 South Terrace | 51m | 14lvls | August Towers

#243 Post by citywatcher » Thu Aug 15, 2019 12:13 pm

Fpenner wrote:Salvatore ‘Sam’ Sgherza was on Tuesday convicted and fined in the Adelaide Magistrates Court for breaching bankruptcy laws after a lengthy investigation into his conduct by the Australian Financial Security Authority.

Federal prosecutors had charged Sgherza, 56, who was head of the Sgherza Group of Companies, in June 2016 with dozens of criminal charges.

Sgherza pleaded guilty in June to four revised criminal charges including withdrawing $274,000 from accounts within a year of bankruptcy, contracting $40,803 in debts knowing he could not repay the money, signing a false declaration on bankruptcy form and failing to disclose information to the trustee of his bankrupt estate.

Each count carries a maximum year in jail or $6600 fine.

Magistrate David McLeod convicted Sgherza on all four counts and fined him $10,000 citing his lack of prior offending, his good character, co-operation with authorities, age and early guilty pleas.

“While fraud is not a factor your offending, nevertheless impeded the administration of your bankruptcy and prevented the distribution of resources in an orderly fashion according to bankruptcy rules,” he said.

“Defence counsel explained at the pressures you were under at the time, particularly from your creditors, some of whom were loan sharks and your concern for you and your family.

“It is true you built up your construction empire such that you were able to live a lavish lifestyle with a big house and expensive … cars but you did not ultimately benefit from them under bankruptcy,

“While you benefited from transactions prior to your bankruptcy it was during a time of significant stress and pressure impacting otherwise good judgment.”

The court had heard in sentencing submissions that Sgherza, who declared bankruptcy on August 30, 2012, had sourced high-interest loans from bikies who had threatened him and his family if he revealed their identity.

Federal prosecutors, had requested a prison sentence.

Mr McLeod said Sgherza’s lawyers had submitted that he had not been in trouble before, had won “numerous accolades” from his industry and was “unfamiliar” with how to deal with his problems.

Sgherza declined to comment on today’s verdict. His lawyer Andrew Moffa said “it speaks for itself.”
Sounds fortunate not to be behind bars
Normally a defendant would be required to give testimony about any alleged bikies for it to be taken under consideration in sentencing

Sent from my SM-J730G using Tapatalk

Post Reply

Who is online

Users browsing this forum: Algernon, Google Adsense [Bot] and 10 guests