Accountant James Fourikis has been ordered to repay close to $200,000 for having misused his disabled brother’s money on playing the stock market and lavish overseas holidays.
Following the death of their father in 2010, Mr Fourikis was handed the reins to his brother Alexander’s estate, of which the net value fell from $210,000 to under $60,000 within two years.
Mr Fourikis’ representation claimed that the defendant had misused the money due to employment instability and other financial troubles.
However, despite his claims Judge Graham Anderson found the acts to be deliberate in advancing “his own personal interests while neglecting Alexander’s” and he was ordered to repay the money, including the value of lost interest and any unaccounted income.
