Police allege Codex Investments director Jack Endersby received more than $2 million from clients between February 2021 and February 2022 to invest in the global stock exchange,but instead used the money to pay out earlier investors and fund a lavish lifestyle.
Jack Alexander Endersby has been arrested on 11 counts of fraud.Supplied
Endersby’s grandmother Lyn Newby,75,told 6PR’s Gary Adshead on Wednesday she jumped at the chance when her grandson offered to grow her savings.
“He said to me,‘Nanna,if you’d like to invest your money,why don’t you do it with me and my new business?’ And he explained it to me,how it was a day trading business,and he was very enthusiastic about it,” Newby said.
“He told me how much he’d made in the first month on his own little $5000 and thought that it was a good opportunity.”
Newby first handed over $10,000,and said she was told by her grandson it had grown to $13,000 in just four months.
It led to her handing over $150,000 of her savings in the hope of a bigger return that would fund long trips home to see family after she moved to France to start a new life with her husband.
Newby also talked her new husband and his sister into investing in the business and was proud of Endersby’s wealth and achievement.
“I thought he was doing really well for himself,” she said.
“He came over one day and asked if we wanted to go for a ride in his new Maserati.”
On Friday,Newby learned of Endersby’s arrest after
She messaged Endersby,asking if all her money had gone.
“He said,‘No,that’s not true Nanna,I’ve got yours sorted. I’ll see you on the 19th’,” she told 6PR.
“But of course he didn’t show.”
Newby said she and her husband thought they had done their due diligence in checking Endersby’s business credentials.
Jack Endersby is facing 11 counts of fraud. Pictured with his grandmother Lyn Newby.Supplied
“We asked for statements,we asked to have a look at different things,we got them,” she said.
“Every time I questioned him why our money was coming through late,he would say,‘I’m really busy Nanna,I’m in Dubai,and I’ll be doing business in Dubai for six weeks’.
“I just took it all,as you would if you loved somebody,and you trust them,what else would you do? I never doubted him.”
Newby described Endersby and herself as “best buddies”.
“We had a great life together in his teenage years. I took him to Bali,I took him to Melbourne,” she said.
“We went to join the Dockers football club and we went to the games all of the time together and we even went to the grand final together over in Melbourne.
“I invested a lot of time and money in him as a child.”
Endersby is due to appear in Perth Magistrates Court on Friday.
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