The allegations made against former rich list member Ron Medich, who was yesterday charged with soliciting the murder of former business associate Michael McGurk, are like something out a 1950s gangster film.
Prosecutors allege Medich, who is best known as a property developer, masterminded a $250,000 conspiracy to have McGurk murdered over what the police have described as business deals gone sour.
According to the Crown’s case against Medich, he hired business associate and boxing champion Lucky Gattellari to oversee the murder.
But Gattellari, who the police say demanded Medich pay him $1 million not to reveal Medich’s role in the plot, has now turned witness against Medich.
Medich has denied the allegations, with his legal team describing the case as weak.
However, the allegations against Medich, and the brutal circumstances in which McGurk was killed, suggest a dark side of business that most entrepreneurs thankfully never encounter.
The suggestion that business disputes could be resolved in this manner is simply unthinkable.
What makes the claims so amazing is that Medich was once on BRW’s rich list and is one of the best-known property developers in Sydney.
In 2005, he was listed on the BRW Rich 200 with a fortune of $135 million, shared with his brother Roy.
He owned shopping centres. He did high-profile property deals. He owned a luxury $40-million home on Wolseley Road, Point Piper, considered one of the most expensive streets in the world.
And yet he was allegedly involved with a number of dubious characters and, according to police claims, took extraordinary measures to resolve one business dispute.
The whole McGurk case is a sordid tale from another world – and one that has not been seen in the business media for decades.
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
