Collingwood Captain Scott Pendlebury Accuses Financial Advisor of $2.45 Million Misappropriation Amidst Tax Debt Scandal
A Collingwood Football Club captain is pursuing legal action against his former financial advisor, alleging the misappropriation of over $2.1 million, while the advisor simultaneously faces a $6.7 million tax debt. The case shines a light on the complex financial dealings of Jason Sourasis, a sports business figure with ties to both Australian Rules Football (AFL) and soccer.
Scott Pendlebury, the Collingwood veteran, initiated the lawsuit this week, claiming that $2,148,900 was transferred from his investment account without his knowledge or authorization. The alleged transfers began in February of this year, ending a financial relationship with Sourasis that spanned more than a decade, dating back to 2013. Pendlebury is also seeking repayment of a $300,000 personal loan.
The allegations against Sourasis extend beyond Pendlebury’s claims. The Australian Taxation Office (ATO) filed a separate lawsuit earlier this month in the County Court, asserting that Sourasis and companies under his control owe $6.7 million in unpaid taxes dating back to 2021. A significant portion of this debt is linked to Western Melbourne Group, the parent company of the A-League soccer club Western United, and a stalled stadium development project in Melbourne’s west.
Sourasis is reportedly attempting to secure funding to revive the stadium project, a move that could potentially alleviate a substantial portion of his tax burden. However, Western United’s future remains uncertain, having been stripped of its license for the upcoming A-League season.
The ATO’s claim against Sourasis has increased by nearly $2 million since initial legal action was taken in November of last year. Interestingly, the ATO has dropped its tax claims against a company through which Sourasis holds an 84% stake in Hemisphere, a player agency that represents Pendlebury in contract negotiations.
Hemisphere’s client roster extends beyond Pendlebury, encompassing prominent AFL and AFLW players including Levi Ashcroft of the Brisbane Lions, Melbourne defenders Steven May and Jake Lever, and members of the highly-regarded Duursma family, including likely No. 1 draft pick Willem Duursma. Sourasis is listed as a director of the company operating as Hemisphere, McDonald Sports & Talent Management, but maintains he is not involved in its day-to-day operations.
“I’m not involved in any day-to-day operations, to me it’s just an investment,” Sourasis told the Australian Broadcasting Corporation (ABC).
Sourasis vehemently denies the allegations made by Pendlebury in the Supreme Court. “The allegations are vehemently denied and, as a legal process has been started, we can’t make any further comments at this stage,” he stated to the ABC on Monday. Pendlebury’s legal counsel, Leon Zwier of Arnold Bloch Leibler, declined to comment on the matter.
The Supreme Court lawsuit reveals details of over 50 unauthorized transactions allegedly made by Sourasis, with some withdrawals reaching as high as $305,000. Court documents suggest that many of these transfers from Pendlebury’s Macquarie Bank account were labeled with descriptions referencing Western United or property developments associated with Sourasis. Specifically, transfers were made to Sayers Road Investment Co, a company owned by Sourasis and sharing a name with the site in Tarneit earmarked for Western United’s stadium complex.
In addition to the alleged misappropriation, Pendlebury claims Sourasis failed to repay the $300,000 loan despite a promise of repayment within 24 hours and a subsequent loan extension. Pendlebury is now seeking a court order compelling Sourasis to return the $2,148,900, plus $300,000 with an annual interest rate of 50%, bringing the total claim to approximately $539,771.28 as of today.
Sourasis has yet to file a formal defense against Pendlebury’s claims. The breakdown of the once-close relationship between the two men, who reportedly traveled the world together with their families, adds another layer to the unfolding legal drama. As recently as January, Sourasis and Pendlebury were publicly promoting a wine brand together on the Western United website. .
The case underscores the importance of rigorous financial oversight, even for high-profile athletes, and raises questions about the financial stability of Sourasis’s various ventures.
