David Deague maintained the tradition building the family-owned firm that in 1992, became Asian Pacific Building Corporation and is now know as Asian Pacific Group, specialising in commercial property development. Advertisement. David W. Deague is Founder of Asian Pacific Group (APG), a family owned firm founded in Melbourne in 1992.. APG specialises in commercial property & boutique hotel development. Hundreds of other investors have also been left in the lurch. Most have been surprisingly quiet about their losses.Deague has declined to confirm how much money his family sank into the failed broker and, while it is believed to be in the millions, reports of one Brighton family losing close to $20 million are said to be untrue.“I went to school with Scott and a number of my old school buddies had funds in there," he says.“We had a number of accounts in there over the years and it is just sad that it ended up this way.“We are just in the queue with everyone else,"says Deague, who claims not to have talked to Murray since the collapse.Two of the Deague family’s prized properties are now on the market, although William denies the sales are in any way connected to the family’s losses.More of the story came to light on Thursday when Murray was required to appear in the Supreme Court of Victoria to answer questions from Ferrier Hodgson administrator George Georges, who is investigating the collapse.It was revealed the Deague family had up to 12 trading accounts with the firm and last year injected $1.99 million.But Murray told the court that he later learnt that instead of being credited to the Deague’s client account in Sonray’s books, the money was put into the firm’s operating account. For the 50 richest families, it is just 48 per cent.

Failed broker Sonray Capital Markets used about $2 million belonging to high-profile property developer the Deague family as ... Sonray also made more than $500,000 worth … Austin asked how often Mr Murray took money from the accounts. On Friday they would have discovered that their loss was Murray’s gain, as he lined his pockets at their expense.He admitted in court that as Sonray stood on the edge of collapse, he had taken hundreds of thousands of dollars to pay personal bills, his mortgage and top up his superannuation.Murray now turns much of the blame on Johnson, admitting client funds were freely transferred into house accounts, which the pair used for trading on the sharemarket and for personal use.The administrators believe there was up to $15 million in “unfunded withdrawals" from client accounts, which contributed to a $46 million hole in the company’s books and ultimately led to the collapse of the Melbourne-based broker.Murray claims Johnson told him he was entitled to access the house accounts for his personal use and to “do whatever it took" to keep the company running.
''But I don't believe he knew it was from that account,'' Mr Johnson told the court.He said he was aware Sonray had also made a ''short-term loan'' of $100,000 to John Murray's executive search company, Swann Global, in October last year. Advertisement.

David Deague is one of Melbourne’s most renowned property developers, with a strong focus on family values and a love of Australian art. "Murray admitted that $525,000 in separate payments recorded from one house account to Mr Johnson for his personal use would have been “in the ball park".He said Sonray had loaned $400,000 from client accounts to his father’s recruiting company, Swann Global and repaid another $441,000 which his father had leant to Mr Johnson and his wife (Mr Murray’s sister) to buy a family home in Albert Park.He also said Mr Johnson’s personal company had received rent from Sonray for their beachside property on the Mornington Peninsula, which was described as a “disaster recovery centre" for Sonray. In 2008 it was the first time in more than 20 years that a Kerry or James Packer had not headed the list. ''We are going through it like water at the moment.
Murray was asked to which he gave a long, opaque explanation.Follow the topics, people and companies that matter to you.Lynas Corporation is set to unveil a $400 million capital raising when it hands down 2020 financial year earnings on Monday, Street Talk can reveal.