UPDATE: Jailed Perth businessman Chris Marco has officially lodged an appeal against his 43 fraud convictions, claiming he did not defraud clients out of millions. The appeal was submitted on October 12, 2023, just days after Marco was sentenced to 14 years in prison for his role in a massive investment fraud scheme.
Marco was found guilty by a jury in the Western Australia Supreme Court for allegedly swindling clients out of more than $250 million over a seven-year period. Prosecutors asserted that he misled clients by portraying himself as a “high net worth individual” with access to exclusive investment opportunities, only to use their funds for personal gain, including purchasing real estate and luxury vehicles.
This urgent appeal was filed by Marco’s lawyer Luka Margaretic, who stated that the defense believes the convictions are “unreasonable and cannot be supported” based on the evidence presented. The WA Court of Appeal is set to review the matter at a future date, with appeals barrister Robert Wilson now involved in the case.
Margaretic expressed confidence in the appeal process, indicating that Marco was devastated by the length of his sentence. “I’ve never seen anything like it in my 35 years of practice,” he remarked. The legal team had previously signaled intentions to contest the verdict immediately after sentencing.
During sentencing, Justice Natalie Whitby highlighted the severity of Marco’s actions, noting that he failed to inform victims about how their money would be used. “You had no intention of using the victims’ money in the manner you had represented,” she stated emphatically.
The emotional fallout from this case is significant, impacting not just Marco and his family but also the numerous clients who lost their life savings in this fraudulent scheme. As the appeal unfolds, many will be watching closely to see if justice can be served for the victims affected by Marco’s actions.
Stay tuned for further developments as the case progresses through the courts.
