The Northern Territory news Sat 29 Jul 2017
The Northern Territory news; NewspaperNT
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04 NEWS SATURDAY JULY 29 2017 NTNE01Z01MA - V1 ADF HOUSING Darwin link in investment saga ELLEN WHINNETT and JOHN ROLFE EXCLUSIVE AUSSIE war heroes who fought on the front line in the Middle East say they face losing their life savings after some were convinced by a smoothtalking ex-military man to invest in property deals that went sour. Former Royal Australian Navy diver Hugh Ochremienko, now a Gold Coast-based property spruiker who was once investigated for but cleared of giving unlicensed financial advice, persuaded soldiers to pour their danger and deployment money into what are now underperforming property developments, mainly in Darwin. Mr Ochremienko denied his clients had lost money, with the impact of a citywide decline in pri ces and general delays in receiving government subsidies offset by tax benefits built into the deals. Up to 200 soldiers and officers sunk their savings or in a handful of cases, superannuation into the deals, with some saying Mr Ochremienko promised to double their wealth in five years. Several current and former members of the Special Air Service Regiment (SASR) have told the NT News they are deep in the red on recommendations by Mr Ochremienko, made worse they say because he traded on his military service to gain their confidence. One former SASR member said he was down $80,000, which was all the deployment money, eight months of my life in Afghanistan. Another former SAS member who estimated his losses at $160,000, said: He played on the trust and culture we have in the army. Thats been the hardest pill to swallow. Mr Ochremienkos company sponsored military events and advertised in the Army magazine as he got to The Zest Apartments on Gardiner St in the CBD where several soldiers have bought property ADF soldiers claim they have lost life savings after financial advice from fellow veteran Barneson Boulevard Final concept for Barneson Boulevard and Tiger Brennan Drive RoadReportNT NT.DIPL Image of Tiger Brennan and Barneson Boulevard split Image of Barneson Boulevard beside Frog Hollow ParkImage of Barneson Boulevard beside Frog Hollow Park Image of Tiger Brennan and Barneson Boulevard split Public art opportunity 12 76 LM