Fight over Watermark Bar and Grill gets nastier as former senator accuses JV partner of fraud

Fresh allegations of fraud have been levelled at Danny Meares, further souring the relationship between him and former ally Graham Richardson.

The pair had teamed up as business partners to launch Townsville restaurant, the Watermark Bar and Grill – 90 percent owned by renowned seafood trader Meares.

Former senator and lobbyist Richardson has a long list of grievances against his former partner, including that he was never consulted about the sale of the restaurant and that he was to have received 10 percent of the annual profits.

Richardson claims he hasn’t seen a single dollar since the business started.

Watermark Bar and Grill was sold last year for $2.5 million to Kickon Group.

Meares has now been accused of fraud, with the latest allegations tendered to the Federal Court.

Documents claim Meares was siphoning off cash to himself, his sons, and companies under his control to the tune of approximately $3.5 million.

The money was used to pay off credit card debts, tax payments, directors fees, and rent owed on three properties unrelated to the joint venture entity known as Good Fortune Pty Ltd.

Documents further claim Meares siphoned $1.2 million to Tirami Pty Ltd, of which he is sole shareholder and director.

Meares sons are claimed to have received $125,000, while business partner Daniel Liu received more than $108,563 in loan.

Richardson claims the amounts were never part of a written agreement and that outstanding interest is yet to be paid.

Meares’ lawyers claim Richardson was a silent partner and Meares had “full decision-making control” of the restaurant.

Irit Jackson - 27-9-22