The administrator of Meter Maids & # 039; cheated $ 4MILLION from an old man to finance his life of luxury & # 039;

<pre><pre>The administrator of Meter Maids & # 039; cheated $ 4MILLION from an old man to finance his life of luxury & # 039;

Michael Yarwood (pictured) is under police investigation for allegedly exploiting a Gold Coast businessman, Will & # 39; The Wrecker & # 39; Smith, 81 years old

A convicted swindler and former CEO of Surfers Paradise Meter Maids is battling accusations that he swindled an elderly man of nearly $ 4 million to finance his life of leisure and luxury.

The details revealed in the documents submitted to the Supreme Court show that Michael Yarwood is under police investigation for allegedly exploiting Will & # 39; The Wrecker & # 39; Smith, 81-year-old Gold Coast businessman, after Mr. Smith granted him power in 2014.

Metro women, who are famous for their beauty and gold bikinis, have been a tourist attraction since 1965 and charge meters to help people avoid fines.

The documents allege that Yarwood persuaded Mr. Smith to give him a power of attorney to help with the sale of Mr. Smith's lucrative Gold Coast Auto Wreckers garage in Reedy Creek, Queensland.

However, once the property was successfully sold to the state government for $ 9.1 million in 2015, Yarwood signed a 10-year administration contract that gave him the power to open and operate bank accounts on behalf of Smith, according to the documents.

Since then, he has allegedly used those accounts to pay millions of dollars in vacations abroad, luxury vehicles, loans to Meter Maids and payments to a "sugar baby" whom he placed in a high-rise apartment, The Courier Mail reported. .

Since then, he has used those accounts to pay millions of dollars in vacations abroad, luxury vehicles, loans to Meter Maids and payments to a "sugary baby" whom he placed in a high-rise apartment (stock image of Meter Maids )

The Meter Maids, renowned for their beauty and golden bikinis, have been a tourist attraction since 1965 (stock image)

The Meter Maids, renowned for their beauty and golden bikinis, have been a tourist attraction since 1965 (stock image)

The Meter Maids, renowned for their beauty and golden bikinis, have been a tourist attraction since 1965 (stock image)

Mr. Smith was only informed of the expenses when his wife noticed a payment of $ 25,000 from his account to the new "personal assistant" of Mr. Yarwood.

The $ 25,000 was subsequently reimbursed by Mr. Yarwood, who claimed that he had simply transferred from the wrong account as a result of an error.

However, Mr. Smith canceled Yarwood's power of attorney and administration contract.

Mr. Yarwood responded by filing a claim with the Supreme Court for nearly $ 2 million in alleged lost income, which led Smith to file a $ 3.9 million counterclaim.

The 81-year-old man wrote in his counterclaim that he had understood that Mr. Yarwood would only access his bank accounts to pay the fees and manage the rental property income.

Mr. Yarwood allegedly paid management fees in the amount of $ 657,937 in 16 months, purchased a Land Rover of $ 102,000 for his wife and financed a number of restaurants.

The meter brokers complement the meters regularly to help people avoid parking fines in Gold Coast (stock image)

The meter brokers complement the meters regularly to help people avoid parking fines in Gold Coast (stock image)

The meter brokers complement the meters regularly to help people avoid parking fines in Gold Coast (stock image)

Despite the allegations, Yarwood insists that its legal team is "extremely confident of the ultimate success of our claim."

– Sir. Smith knows very well that his claim has no basis in fact or in law … in defending his breach of contract, "he said in a statement on Friday.

"It is disappointing that Mr. Smith continues on this path."

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