SHOCKING Property Scandal: Du Val Group’s Debt Skyrockets

PHOTO: Kenyon Clarke. kenyonclarke.com

The financial troubles of Du Val Property Group have deepened, with new reports revealing a staggering $306 million in debt—a 30% increase from previous estimates. 📉💥

💼 Statutory managers PwC have flagged serious financial irregularities, missing records, and questionable transactions involving company owners Kenyon and Charlotte Clarke. Investigations suggest Du Val entities funded assets now in their personal possession. 🤯🚨

Du Val Founder Kenyon Clarke Handcuffed After Confrontation

🏠 What’s happening to unfinished property developments?
🔹 Some projects sold off, others still in limbo
🔹 Flood-damaged homes under repair
🔹 The government advanced $1.04M to cover urgent costs 💸

Du Val Property Group Scandal: Missing Jewellery and Asset Deadline Looms

📊 Key findings from PwC’s latest report:
✅ Du Val’s debt surges from $238M to $306M due to mounting fees, interest, and forensic accounting discoveries
✅ Concerns over GST transactions and lack of financial transparency
✅ First company in 14 years to face statutory management, since South Canterbury Finance 🚨

📢 What happens next? PwC warns more forensic investigations are needed, and legal action may be on the horizon. Stay tuned for updates!