Symonds lands in trouble again

by Sethu Maathavan    April 22, 2009

"Symonds used an autographed bat to lock in a seven-figure loan with the Commonwealth Bank of Australia that he then invested with the failed Storm Financial Services, a former Storm executive alleges," said 'The Sydney Morning Herald'.

"The Australian Financial Review reports that a Storm adviser offered the autographed cricket bat in 2007 in order to waive the cost of mortgage insurance for Symonds. The cricketer is believed to have lost about USD one million when the company collapsed in January," the report added.

"Storm's founders Emmanuel and Julie Cassimatis put the company into voluntary administration in January after being unable to meet a repayment demand from CBA," the report stated.

This work is licensed under a Creative Commons Attribution 3.0 License.

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