PHOTO: SUPPLIED – Mike Pero, chief executive of Mike Pero Real Estate and Mike Pero Marketing, needs to pay his joint venture partner $2.38m.
Real estate kingpin Mike Pero says he hasn’t got the cash to pay back over $2 million he misappropriated from a joint venture company.
His financial plight came to light this year in his court bid to suspend enforcement of the $2.38m debt until other legal action was completed.
He owes the money to his 50 per cent partner (Mike Pero Mortgages Ltd) in the Mike Pero real estate business. The mortgage company is fully owned by the Liberty Financial Group, a Melbourne-based financial services company controlled by Las Vegas businessman Sherman Ma.
READ MORE VIA STUFF