Home > Rugby League > Willie Mason lost life savings after ‘hard partying’, court told – NEWS.com.au

Willie Mason lost life savings after ‘hard partying’, court told – NEWS.com.au

Former rugby league star Willie Mason has been accused of “aiding and abetting” the regular hard partying that led to the failure of an investment company and, with it, the loss of his life savings.

The extraordinary explanation for the failure of John and Paul Hanna’s private investment firm is detailed in their response to a lawsuit filed by Mason last month.

The NRL cult figure is seeking $985,838 in the NSW Supreme Court from the Hannas after investing half a million dollars that he intended to retire on in their company, Fairchild Property Investments.

Mason alleges the Hannas “induced” him to invest the sum on the guarantee it would be repaid with 15 per cent interest each year.

The Hannas promised Mason they could teach him how to get rich and that he would be able to buy luxury cars if he invested with them, Mason alleged in court documents.

Instead the company went into liquidation and the money evaporated.

He has accused his former associates of making false and misleading representations about several matters, including who controlled and owned the company, its profitability, how safe his money would be, and whether he would be indemnified for any losses.

In their response to the claim, filed on July 23, the Hannas say Mason was not “induced” but rather chose to invest with them after doing his own research – something that is evident from his testimonials on Fairchild websites.

At the time Mason invested, the company was “very profitable”, the Hannas claim. But in between the former Australian forward stumping up $500,000 and the failure of the company, he “partied hard” with close friend John Hanna.

“This regular partying which was aided and abetted by (Mason) caused (John Hanna) in his capacity as the sole director of Fairchild to not properly manage the company,” the response says.

“This resulted in a mismanagement of Fairchild which was highly profitable at the time (Mason) advanced the funds to being highly unprofitable at the time Fairchild went into liquidation.”

Whether or not Mason caused the loss of his own life savings by this relentless partying would likely be an issue in the case, the response claimed.

Fairchild did pay $234,059.87 in total to Mason across several small payments, but the Hannas admit they have not repaid his $500,000.

The matter was listed for a mention before Justice David Hammerschlag on Friday.