In a shocking turn of events, Kenneth Charles Grace, a former car salesman turned multi-millionaire conman was found dead in a Sydney motel, have a look at his cause of death
Kenneth Charles Grace was discovered dead on the very day he was set to be sentenced for his involvement in the Goldsky Global Access Fund Ponzi scheme.
Who is multi-millionaire conman Kenneth Charles Grace, cause of death, bio, age and net worth
Former Olympic swimmer Sam Riley and Olympic cyclist Robbie McEwen are among a long list of investors owed money by the former car dealer and $24 million from the collapse of the hedge fund is still accounted for. Kenneth’s net worth isn’t known but he was a multi-millionaire.
Grace’s intricate web of deceit had ensnared high-profile celebrity clients, promising them a lucrative return of 20 percent a year. His cause of death isn’t known yet.
58-year-old Kenneth Charles Grace’s notoriety reached its peak as the director of the Goldsky Global Access Fund. Promising a 20 percent annual return, Grace successfully persuaded several prominent Australian figures to invest substantial amounts of money in the fund.
Investment Fund Manager Found Dead on Sentencing Day.
"A conman who scammed celebrity clients out of millions was found dead on the day he was due to be sentenced for running a Ponzi scheme…
(Kenneth Charles) Grace ripped off investors, including Olympians Sam Riley and… https://t.co/Aao2qrufSf pic.twitter.com/BYIpVcRti7— kristen shaughnessy (@kshaughnessy2) January 21, 2024
Notable names such as former AFL player Simon Black, Melbourne Storm head of performance Lachlan Penfold, former AFL player Clark Keating, Olympic swimmer Sam Riley, and Olympic cyclist Robbie McEwen were among those who fell victim to Grace’s deceptive practices.
The Goldsky Global Access Fund collapsed in 2018, revealing allegations of Kenneth Charles Grace running a sophisticated Ponzi scheme. Rather than investing the funds as promised, Grace diverted the money to fund his extravagant lifestyle. Luxury real estate purchases, skippered motorboats, and even a private jet for his stepdaughter’s cosmetic surgery were just a few examples of how Grace shamelessly misappropriated investor funds.
Kenneth Charles Grace’s death
Kenneth Charles Grace’s web of deceit began to unravel when the Goldsky Global Access Fund faced liquidation. Grace was scheduled for sentencing at the Downing Centre District Court. However, on the day of his penultimate sentencing, he was found dead in a Sydney motel, leaving behind $24 million in unaccounted funds. The circumstances surrounding his death remain under investigation, adding another layer of mystery to an already convoluted tale.
During legal proceedings, Kenneth Charles Grace attempted to deflect blame by claiming he was a victim of cybercrime. He argued that the Goldsky liquidators had not done enough to trace the missing funds.
Kenneth Charles Grace admitted to transferring $17,000 from the hedge fund account to a personal account, justifying it as a mere shift without actual loss to clients. However, his assertions were met with skepticism, leaving the unresolved question of the missing millions.
The death of Kenneth Charles Grace mark a chapter in financial infamy by showcasing the devastating consequences of white-collar crime.
Warrant issued for investment fund manager who didn't show up for his sentencing.
"Kenneth Charles Grace is wanted for arrest after failing to appear in court over his role in a fund that collapsed, leaving $24 million unaccounted for.
The investment fund directed by Grace… pic.twitter.com/zJ5iLro5AP
— kristen shaughnessy (@kshaughnessy2) January 18, 2024