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Zapia - The Todd Carney of CEO's, missing money

Slackboy72

Coach
Messages
11,939
I'd like to know how Ch7 came across this information. I didn't see the program, so I don't know what information they covered.

I heard Magnay being interviewed on the radio this morning and she was basically condemning Zappia over it, and saying that Parra couldn't possibly take him on after this. Obviously she'd already made her mind up, despite not having any evidence that any of it was dodgy.

I'm hoping that Clint gave the ok for Massoud to release his name.

I hope he gives the police the OK to release his name.

Maybe Magnay knows more about this than you eh?
 

dovif

Juniors
Messages
177
I wonder if Zappia did much due diligence on the donor.

Just thinking about a few things:


  1. the guy is 27-28 and supposed to have about a year to live
  2. the disease he has (Shy-Drager Syndrome) has a life expectancy of 7-10 years from onset of symptoms
  3. therefore he's had the foresight to take out a sh*tload of life insurance by about age 20
  4. term life insurance for $13.8m taken out at 20, according to the Suncorp premium estimator, is about $1,240 a month.
  5. It would take about $20k of gross income to pay for that.
  6. That is a fair chunk of any 20 year old's wages. Not sure many 20 year olds would be thinking that far ahead.
  7. He is said to be a law student - and would have been sick and probably unable to work for a number of years, I expect, so hardly likely to have been earning much
  8. Hopefully he took out the insurance before he had any inkling of his illness. If not and he hasn't declared it to the insurer, chances are the policy will be void.
  9. I would expect any life insurer to demand a pretty extensive medical before agreeing to provide that sort of coverage amount.
I'm struggling to see how it all adds up, unless the guy was independently wealthy via his family or something.

LOL, great instinct, of course there was never 13 mil to begin with
 

dovif

Juniors
Messages
177
The fact that the money was invested in "Beyond Sharks" Foundation, do that sounds like a retirement plan for Zappia, I think he was dreaming of the $13 million executor of his very own retirement plan
 

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