Michael Gu

Lavish mansion owned by ‘Australia’s new Christopher Skase’ is defaced in graffiti

PHOTO: Michael Gu (inset) has been labelled ‘Australia’s new Christopher Skase’ after he was linked to alleged fraudulent activity and his business collapsed owing investors hundreds of millions of dollars.

A multi-million dollar mansion owned by an investor who fled the country owing $350million has been defaced with graffiti in Chinese demanding he ‘pay back the money’.

Michael Gu has been dubbed ‘Australia’s new Christopher Skase’ after his business, iProsperity Group, collapsed owing hundreds of millions of dollars before he fled the country.

His luxury Mosman home, which overlooks Sydney Harbour, was hastily abandoned in late July as Mr Gu and his business associate, Harry Huang, flew to Los Angeles via New Zealand.

They were granted permission to travel by the Department of Home Affairs, despite well-known fraud allegations  levelled against them by their creditors.

Neither have been charged with any crimes.

Neighbours in the well-to-do suburb told Mosman Collective Gu’s ‘display of wealth was obscene’ during his short stint living in the area.

‘Everyone in the street used to talk about the cars this guy had… they were only in Mosman for a couple of years and… vanished into thin air,’ one said.

The resident found it concerning that somebody had taken the time to graffiti the property this week in Chinese writing which roughly translates to ‘pay the money back’.

‘It’s intimidating to learn that someone has spray-painted graffiti over the front of the house – I mean, what was this guy up to?,’ they said.