In 2013, the private sale of an unassuming five storey apartment block near Monash University in Caulfield stunned local observers. Even in Melbourne’s booming property market, the $22.5 million price tag for a building designed like an IKEA cupboard seemed well above the odds.
An eight-month Fairfax Media investigation has traced suspicious money flows, court files and corporate records across three continents to uncover why Dudley House’s purchase price was so high.
Its sale was part of a global money laundering and bribery scheme engineered by greedy local developers and powerful officials overseas who pocketed $4.75 million in bribes on this single deal. The sale of Dudley House in Caulfield which has been linked with corrupt Malaysian officials, who allegedly intentionally paid 20% over the asking price.