1 00:00:02,120 --> 00:00:06,400 Speaker 1: Steve Jobs, Elon Musk, Jack Dorsey. It seems like most 2 00:00:06,440 --> 00:00:09,639 Speaker 1: great tech entrepreneurs have their own story of starting from 3 00:00:09,760 --> 00:00:13,440 Speaker 1: nothing and making it in the bright lights of Silicon Valley. 4 00:00:14,080 --> 00:00:17,680 Speaker 1: Alan Metcalf had his own version of Silicon Valley right 5 00:00:17,720 --> 00:00:20,959 Speaker 1: here in Australia. It was a pilgrimage he made to 6 00:00:21,000 --> 00:00:23,120 Speaker 1: create his fortune and transform his. 7 00:00:23,120 --> 00:00:24,400 Speaker 2: Vision into reality. 8 00:00:24,960 --> 00:00:28,160 Speaker 1: Today, my producer Nina Young and I make that same 9 00:00:28,280 --> 00:00:36,120 Speaker 1: journey following in the footprints Alan left behind in the sand. 10 00:00:34,479 --> 00:00:36,000 Speaker 2: Be a triple vit to per. 11 00:00:38,080 --> 00:00:39,040 Speaker 3: Pot Deva Java. 12 00:00:40,760 --> 00:00:44,320 Speaker 1: When you think about tech mechers, quiet coastal towns in 13 00:00:44,360 --> 00:00:49,240 Speaker 1: Western Australia probably don't immediately spring to mind. But for Allan, 14 00:00:49,720 --> 00:00:53,080 Speaker 1: Geraldton and ocean town, with a population of just forty 15 00:00:53,120 --> 00:00:56,800 Speaker 1: thousand people, about a five hour drive from Perth, was 16 00:00:56,840 --> 00:01:00,480 Speaker 1: an absolute gold mine. As he raised funds for sakes, 17 00:01:01,320 --> 00:01:05,840 Speaker 1: four hundred and fifty Geraldon residents contributed about fifteen million dollars. 18 00:01:05,880 --> 00:01:09,119 Speaker 1: Between them, they made up three quarters of Allen's total 19 00:01:09,160 --> 00:01:13,800 Speaker 1: shareholders and a third of the overall seed money. It 20 00:01:13,840 --> 00:01:19,080 Speaker 1: struck me as strange, why this town. I'm Alex Turner Cohen, 21 00:01:19,240 --> 00:01:22,399 Speaker 1: a finance and investigative reporter from news dot com dot 22 00:01:22,400 --> 00:01:27,840 Speaker 1: Au and you're listening to the Missing forty nine million. 23 00:01:35,720 --> 00:01:38,240 Speaker 1: This is episode four, Promised Land. 24 00:01:39,959 --> 00:01:43,400 Speaker 4: It's got a port, it's got railways, it's got two hospitals, 25 00:01:43,400 --> 00:01:46,920 Speaker 4: it's got twenty schools, it's got a university center. It's 26 00:01:46,959 --> 00:01:48,160 Speaker 4: got everything. 27 00:01:49,400 --> 00:01:52,920 Speaker 1: This is Ian Blaney. He was the local state politician 28 00:01:53,000 --> 00:01:56,760 Speaker 1: for the Geralton electorate for thirteen years. Ian lives in 29 00:01:56,800 --> 00:01:59,400 Speaker 1: Perth now, so Nina and I stopped by to visit 30 00:01:59,440 --> 00:02:02,800 Speaker 1: him before we begin our long drive to Geralton. We 31 00:02:02,840 --> 00:02:06,000 Speaker 1: sit in his air conditioned home, a welcome retreat from 32 00:02:06,040 --> 00:02:10,640 Speaker 1: the sweltering forty three degree Perth heat. Ian's term ended 33 00:02:10,680 --> 00:02:13,800 Speaker 1: in twenty twenty one, so I thought maybe his constituents 34 00:02:13,800 --> 00:02:17,040 Speaker 1: had complained about Alan over the years. It turns out 35 00:02:17,200 --> 00:02:18,400 Speaker 1: he'd actually met Alan. 36 00:02:18,960 --> 00:02:22,320 Speaker 3: The government had started a program called Royalties for Regions, 37 00:02:22,360 --> 00:02:25,040 Speaker 3: which meant there was more money available for spending in 38 00:02:25,080 --> 00:02:28,520 Speaker 3: the regions, and so I had various people coming in 39 00:02:28,560 --> 00:02:33,280 Speaker 3: with ideas of things that they thought could be potentially 40 00:02:33,320 --> 00:02:36,680 Speaker 3: a Royalties for Regions program. So an MP, if you're 41 00:02:36,680 --> 00:02:39,639 Speaker 3: in government, you tend to get people who've got ideas 42 00:02:39,639 --> 00:02:42,200 Speaker 3: and want money, tend to call in and see you 43 00:02:42,360 --> 00:02:43,120 Speaker 3: quite regularly. 44 00:02:43,760 --> 00:02:47,360 Speaker 1: Alan was one of those people coming into pitch. Ian 45 00:02:47,440 --> 00:02:50,160 Speaker 1: doesn't remember the exact year, but he recalls it was 46 00:02:50,200 --> 00:02:51,120 Speaker 1: early in his term. 47 00:02:51,880 --> 00:02:56,320 Speaker 3: He had quite a good pitch. He could talk quite well. 48 00:02:56,480 --> 00:02:59,960 Speaker 3: I can remember that he had a concept of build 49 00:03:00,280 --> 00:03:04,120 Speaker 3: a virtual village to sort of make more communications in 50 00:03:04,160 --> 00:03:04,919 Speaker 3: the community. 51 00:03:05,840 --> 00:03:09,240 Speaker 1: Ian explained that Alan's plan involved giving everyone in Geralton 52 00:03:09,280 --> 00:03:12,760 Speaker 1: a computer and creating some kind of closed network for 53 00:03:12,840 --> 00:03:16,480 Speaker 1: the town. He wanted to make Geralton a leader in tech. 54 00:03:17,200 --> 00:03:19,480 Speaker 1: It was a bit like his plan to turn Townsville 55 00:03:19,520 --> 00:03:22,920 Speaker 1: into Australia's version of Hollywood in the eighties, which I 56 00:03:22,960 --> 00:03:24,880 Speaker 1: explored in an earlier episode. 57 00:03:25,200 --> 00:03:28,920 Speaker 3: I found it a little bit difficult to be a 58 00:03:28,960 --> 00:03:32,440 Speaker 3: proponent for it because, to be honest, he might have 59 00:03:32,480 --> 00:03:36,320 Speaker 3: said he only wanted a million dollars, but that's even 60 00:03:36,720 --> 00:03:39,480 Speaker 3: a million dollars for governments, not a small amount of money. 61 00:03:39,680 --> 00:03:42,400 Speaker 4: So I just thought, no, this is shonky. I don't 62 00:03:42,440 --> 00:03:44,880 Speaker 4: really want anything to do with it. The whole concept 63 00:03:44,920 --> 00:03:47,880 Speaker 4: I thought was a bit crazy, I suppose, but you know, 64 00:03:47,960 --> 00:03:50,400 Speaker 4: when you meet someone who's a true believer in something 65 00:03:50,440 --> 00:03:52,880 Speaker 4: and there's not a touch of cynicism in there at all, 66 00:03:53,040 --> 00:03:56,360 Speaker 4: and I suppose that's good salespeople are like that. It 67 00:03:56,480 --> 00:03:59,760 Speaker 4: was a bit of the fervor of the converted fanatic 68 00:03:59,800 --> 00:04:03,280 Speaker 4: or something, you know, But I wasn't very receptive. 69 00:04:04,200 --> 00:04:07,920 Speaker 1: Ian was also puzzled by Alan's interest in his town, and. 70 00:04:07,840 --> 00:04:12,280 Speaker 3: He was very strong that Geralden was the right place 71 00:04:12,320 --> 00:04:15,480 Speaker 3: at the right time for it to be tried out 72 00:04:15,640 --> 00:04:19,200 Speaker 3: sort of thing. I don't know why it's settled on Geralton, 73 00:04:19,480 --> 00:04:20,920 Speaker 3: but there must have been a reason. 74 00:04:21,800 --> 00:04:25,400 Speaker 4: Maybe he didn't choose somewhere closer to home because he 75 00:04:25,480 --> 00:04:27,800 Speaker 4: didn't want to be in a place where there was 76 00:04:27,800 --> 00:04:29,200 Speaker 4: a chance people might have known him. 77 00:04:29,240 --> 00:04:29,760 Speaker 3: I suppose. 78 00:04:32,240 --> 00:04:35,360 Speaker 1: As I step back outside and feel myself melting into 79 00:04:35,360 --> 00:04:38,800 Speaker 1: the pavement from the unrelenting heat, I'm a little excited. 80 00:04:39,440 --> 00:04:41,320 Speaker 1: I'm on the other side of the country where the 81 00:04:41,360 --> 00:04:44,760 Speaker 1: bulk of the forty nine million dollars came from. Maybe 82 00:04:44,800 --> 00:04:47,720 Speaker 1: someone knows more about the money, or at least more 83 00:04:47,760 --> 00:04:51,479 Speaker 1: about why Alan had his sights set on Geralton. It's 84 00:04:51,520 --> 00:04:53,880 Speaker 1: time for the next step to speak with some of 85 00:04:53,920 --> 00:04:57,840 Speaker 1: the Geralton investors, or try to. A few of them 86 00:04:57,839 --> 00:05:00,599 Speaker 1: are now living in Perth. They haven't It's been very 87 00:05:00,680 --> 00:05:05,080 Speaker 1: responsive to emails. I just knocked on the door of 88 00:05:05,120 --> 00:05:07,400 Speaker 1: a man who lived in Perth who used to be 89 00:05:07,440 --> 00:05:10,360 Speaker 1: from Geraldton. I know he was involved in the Safe 90 00:05:10,400 --> 00:05:12,520 Speaker 1: Worlds project, and he actually let me into his house 91 00:05:12,600 --> 00:05:15,000 Speaker 1: and he said he didn't want to talk. He's apparently 92 00:05:15,040 --> 00:05:18,039 Speaker 1: dealt with journalists before in another life and doesn't trust us, 93 00:05:18,800 --> 00:05:21,000 Speaker 1: but he was happy for me to lely my details 94 00:05:21,080 --> 00:05:23,919 Speaker 1: in case he did change his mind. And while he 95 00:05:24,000 --> 00:05:26,400 Speaker 1: was in another room looking for a pen and paper, 96 00:05:26,920 --> 00:05:29,080 Speaker 1: his wife came over to me and asked what I 97 00:05:29,120 --> 00:05:31,359 Speaker 1: was doing there and what this was all about, and 98 00:05:31,440 --> 00:05:34,240 Speaker 1: I told her I was a journalist doing a report 99 00:05:34,279 --> 00:05:37,680 Speaker 1: on Safe Worlds, and she immediately rolled her eyes and 100 00:05:37,839 --> 00:05:41,279 Speaker 1: said I knew it was a scam. And then he 101 00:05:41,360 --> 00:05:44,240 Speaker 1: came back out and I left all my details behind it. 102 00:05:44,320 --> 00:05:46,039 Speaker 1: I guess it's up to him if he ever wants 103 00:05:46,080 --> 00:05:48,480 Speaker 1: to get back in touch, but it was just interesting 104 00:05:48,520 --> 00:05:50,760 Speaker 1: to see another tale of the man who's all in 105 00:05:51,240 --> 00:05:53,839 Speaker 1: and the wife who's all out when it comes to 106 00:05:53,880 --> 00:05:59,600 Speaker 1: Safe Worlds. We tried one more Hello you home. 107 00:06:05,360 --> 00:06:07,440 Speaker 5: Okay, it doesn't look like he's here, so I'm just 108 00:06:07,480 --> 00:06:10,039 Speaker 5: going to leave him a note. I haven't got a 109 00:06:10,080 --> 00:06:12,440 Speaker 5: phone number for him that I do have an email address, 110 00:06:12,480 --> 00:06:15,560 Speaker 5: which he hasn't replied to, though it hasn't bounced. 111 00:06:17,240 --> 00:06:20,160 Speaker 1: It turns out this investor no longer lives at the address, 112 00:06:20,720 --> 00:06:24,359 Speaker 1: but the current homeowners pass on my note. He calls 113 00:06:24,400 --> 00:06:26,360 Speaker 1: me on the number I left and agrees to give 114 00:06:26,360 --> 00:06:30,880 Speaker 1: me some comments, provided he stays anonymous. This voice actor 115 00:06:30,960 --> 00:06:33,280 Speaker 1: is reading out what he said during our conversation. 116 00:06:34,080 --> 00:06:36,720 Speaker 6: Alan was a con merchant. He took advantage of what 117 00:06:36,800 --> 00:06:40,080 Speaker 6: was happening in wa. The reason he targeted a lot 118 00:06:40,080 --> 00:06:42,920 Speaker 6: of farmers was the resources burn. It was all a 119 00:06:43,000 --> 00:06:43,440 Speaker 6: big con. 120 00:06:45,960 --> 00:06:48,719 Speaker 1: There was one investor in Perth willing to meet with 121 00:06:48,839 --> 00:06:51,919 Speaker 1: us and tell me more. His name is Phil Bardon, 122 00:06:52,440 --> 00:06:55,599 Speaker 1: only we weren't allowed to go to his house. He 123 00:06:55,680 --> 00:06:58,440 Speaker 1: said his wife has banned all mention of Safe Worlds 124 00:06:58,440 --> 00:06:59,080 Speaker 1: in their home. 125 00:07:00,040 --> 00:07:02,240 Speaker 7: Wilt's never forgiven me, he begout that tonight. It's been 126 00:07:02,240 --> 00:07:06,160 Speaker 7: a real bone of attention ever since I mentioned Safe 127 00:07:06,160 --> 00:07:08,440 Speaker 7: world But I would love to invite you to have place, 128 00:07:08,480 --> 00:07:11,080 Speaker 7: but she's not a happy girl at the moment. 129 00:07:11,800 --> 00:07:14,920 Speaker 1: We record this in my hotel room, with Nina perched 130 00:07:14,960 --> 00:07:17,880 Speaker 1: on the end of the bed holding the microphone. Phil 131 00:07:17,920 --> 00:07:21,200 Speaker 1: grips onto pages and pages of documents and emails he's 132 00:07:21,200 --> 00:07:25,040 Speaker 1: collected over the years, shuffling them as he talks. He 133 00:07:25,080 --> 00:07:28,160 Speaker 1: got into safe worlds in twenty thirteen after a chance 134 00:07:28,280 --> 00:07:29,640 Speaker 1: encounter with an old friend. 135 00:07:30,440 --> 00:07:33,840 Speaker 7: I bumped into Rod McKay told me that you know, look, 136 00:07:34,080 --> 00:07:35,560 Speaker 7: you want to earn some money, and I said yes. 137 00:07:36,600 --> 00:07:40,680 Speaker 7: So I met Rod. And at the time Alan had 138 00:07:40,760 --> 00:07:43,080 Speaker 7: arranged a meeting with a group of scheerholders over here 139 00:07:43,080 --> 00:07:47,040 Speaker 7: in Perth. So I went initially to this yearholder's meeting, 140 00:07:47,760 --> 00:07:51,240 Speaker 7: not knowing what it was about. All I learned at 141 00:07:51,240 --> 00:07:53,160 Speaker 7: the time that he said he had a secret of AI, 142 00:07:53,760 --> 00:07:57,800 Speaker 7: and at that time, back twenty thirteen, really set about 143 00:07:57,960 --> 00:08:02,720 Speaker 7: artificial intelligence. That Ottawa Rod that this company invests money 144 00:08:02,800 --> 00:08:05,400 Speaker 7: now it was going to float in six weeks time. 145 00:08:05,960 --> 00:08:08,160 Speaker 7: He didn't force me, he said, it's going to float 146 00:08:08,240 --> 00:08:10,960 Speaker 7: six weeks time and these year is going to go 147 00:08:11,000 --> 00:08:12,800 Speaker 7: for one dollar of five dollars overnight. 148 00:08:13,520 --> 00:08:14,280 Speaker 2: And can you tell me a. 149 00:08:14,320 --> 00:08:15,119 Speaker 7: Bit about Rod? 150 00:08:15,280 --> 00:08:18,400 Speaker 2: So how did you know Rod? And where was he from? 151 00:08:18,480 --> 00:08:20,720 Speaker 7: I went to the school with Rod in Jeralton many 152 00:08:20,800 --> 00:08:25,600 Speaker 7: years ago, back in the sixties. Lovely guy. We played 153 00:08:25,600 --> 00:08:26,160 Speaker 7: tennis together. 154 00:08:27,400 --> 00:08:30,800 Speaker 1: In addition, to being a lovely tennis player. Rod McKay 155 00:08:30,920 --> 00:08:35,080 Speaker 1: is one of Allen's earliest and most devoted disciples. I 156 00:08:35,200 --> 00:08:38,240 Speaker 1: learned from Phil that Rod is the reason Geraldton turned 157 00:08:38,240 --> 00:08:42,040 Speaker 1: into a Garden of Eden for the Safeworld's project. I'd 158 00:08:42,040 --> 00:08:45,440 Speaker 1: heard rumors about someone who invested more than a million dollars. 159 00:08:45,920 --> 00:08:49,000 Speaker 1: It was nothing more than that a rumor until now. 160 00:08:49,920 --> 00:08:52,559 Speaker 1: The story goes, Alan and Rodd were sitting next to 161 00:08:52,600 --> 00:08:56,239 Speaker 1: each other on a flight and got talking. In emails 162 00:08:56,320 --> 00:09:00,200 Speaker 1: rod scent, which I've obtained, He says he originally owned 163 00:09:00,240 --> 00:09:03,960 Speaker 1: Alan one point five million dollars. Rod was a wheat 164 00:09:04,000 --> 00:09:06,960 Speaker 1: and a sheep farmer and sold these farms when he retired. 165 00:09:07,600 --> 00:09:10,600 Speaker 1: My understanding is that's where the money came from. But 166 00:09:10,760 --> 00:09:14,400 Speaker 1: Alan couldn't pay it back. He convinced Rod to turn 167 00:09:14,440 --> 00:09:17,120 Speaker 1: his loan into one point five million dollars worth of 168 00:09:17,160 --> 00:09:22,120 Speaker 1: safe World shares. Instead, Rod sprouked Safeworlds to people he 169 00:09:22,200 --> 00:09:24,800 Speaker 1: knew in Geraldon, and he knew a lot of people. 170 00:09:25,400 --> 00:09:28,920 Speaker 1: In one email Rod sent, he wrote that he personally 171 00:09:28,960 --> 00:09:32,679 Speaker 1: got four hundred and fifty shareholders on board, bringing in 172 00:09:32,800 --> 00:09:37,320 Speaker 1: fifteen million dollars worth of investment. Phil met Allan for 173 00:09:37,360 --> 00:09:39,160 Speaker 1: the first time thanks to Rod. 174 00:09:40,040 --> 00:09:43,040 Speaker 7: So what the airport and Rod had album there and 175 00:09:43,160 --> 00:09:47,160 Speaker 7: I reduced myself to him, and Rod said Phil gonbia 176 00:09:47,200 --> 00:09:52,000 Speaker 7: an investor, and I said, yes, I am. I hope 177 00:09:52,000 --> 00:09:56,120 Speaker 7: this is good because I lost money in eighty seven crash. 178 00:09:56,480 --> 00:10:00,280 Speaker 1: Phil invested fifty thousand dollars. It wasn't a small out 179 00:10:00,280 --> 00:10:02,960 Speaker 1: for him and his family. What he received in return 180 00:10:03,120 --> 00:10:06,480 Speaker 1: was a share certificate. Phil started to get a bad 181 00:10:06,520 --> 00:10:09,080 Speaker 1: feeling and wanted to pull out, but that didn't go 182 00:10:09,160 --> 00:10:09,760 Speaker 1: down well. 183 00:10:10,440 --> 00:10:12,480 Speaker 7: I read him at Texas said this is not right. 184 00:10:12,520 --> 00:10:15,520 Speaker 7: I want my money back. He sort of scoffed and said, 185 00:10:16,120 --> 00:10:20,560 Speaker 7: you're getting yourself into I said to Alan, I've got 186 00:10:20,600 --> 00:10:25,199 Speaker 7: the secret to levitation, and I'm going to start raising 187 00:10:25,200 --> 00:10:27,480 Speaker 7: some money. I'm not going to tell you how it works. 188 00:10:28,280 --> 00:10:30,880 Speaker 7: I was that wild, and I don't know whether I 189 00:10:30,880 --> 00:10:34,679 Speaker 7: go response back. But I was really niggling him, you know. 190 00:10:34,720 --> 00:10:36,040 Speaker 7: I said, if you're going to see me, see me. 191 00:10:36,720 --> 00:10:39,080 Speaker 7: I call him every name under the sun. I'm maybe 192 00:10:39,160 --> 00:10:41,000 Speaker 7: teen him fifteen email. I was having a couple of 193 00:10:41,080 --> 00:10:43,960 Speaker 7: years and I never seen me, so I knew that 194 00:10:44,040 --> 00:10:44,839 Speaker 7: something was right. 195 00:10:44,920 --> 00:10:49,360 Speaker 1: Anyway, Alan cut Phil off from all communication about Safe 196 00:10:49,400 --> 00:10:52,839 Speaker 1: Worlds The only updates he receives now are the ones 197 00:10:52,880 --> 00:10:56,320 Speaker 1: sent on by his cousin, a man called Warren Bardon. 198 00:10:56,760 --> 00:11:01,040 Speaker 7: Look, I put too much trust in people. People get convoys, 199 00:11:01,080 --> 00:11:04,440 Speaker 7: and they tend to try and spread the demies other people. 200 00:11:04,480 --> 00:11:07,040 Speaker 7: And this is great and right than a few other 201 00:11:07,160 --> 00:11:09,320 Speaker 7: quite a few Barnas I think might have spread the 202 00:11:09,320 --> 00:11:12,199 Speaker 7: word and told people to buy these years. Most people 203 00:11:12,200 --> 00:11:15,680 Speaker 7: they approached were farmers or every work is like me. 204 00:11:15,840 --> 00:11:18,839 Speaker 7: You know, I'm not a uni personal any but it's 205 00:11:18,880 --> 00:11:20,600 Speaker 7: just said. I thought it was a good investment at 206 00:11:20,600 --> 00:11:22,520 Speaker 7: the time, but I quickly fed. When I fed out, 207 00:11:22,559 --> 00:11:26,000 Speaker 7: I tried to warn people, and certain people said, look, 208 00:11:26,040 --> 00:11:28,800 Speaker 7: you know, look that's good. I think some people are 209 00:11:28,840 --> 00:11:29,560 Speaker 7: still convinced. 210 00:11:30,679 --> 00:11:33,800 Speaker 1: If this is starting to sound familiar to you, well, yes, 211 00:11:34,000 --> 00:11:37,720 Speaker 1: me too. It's just like the enormous success Alan had 212 00:11:37,800 --> 00:11:41,040 Speaker 1: in securing investments from sugar farmers in the nineteen eighties 213 00:11:41,080 --> 00:11:44,040 Speaker 1: for his film projects, which I found out about an 214 00:11:44,040 --> 00:11:48,360 Speaker 1: episode too. It seemed now he turned his attention back 215 00:11:48,400 --> 00:11:51,559 Speaker 1: to what had worked before, just for a different project, 216 00:11:51,720 --> 00:11:56,520 Speaker 1: different location, different decade. What was especially different this time 217 00:11:56,640 --> 00:11:58,880 Speaker 1: was that all of these people in Geraldton needed a 218 00:11:58,920 --> 00:12:02,760 Speaker 1: little more convincing. Soon Alan was jetting in and out 219 00:12:02,760 --> 00:12:06,040 Speaker 1: of the town, himself a shepherd, making sure his flock 220 00:12:06,200 --> 00:12:10,040 Speaker 1: stayed on the right path. It's safe to say Phil 221 00:12:10,160 --> 00:12:13,720 Speaker 1: is not Alan's biggest fan, as Nina and I discover 222 00:12:13,880 --> 00:12:16,080 Speaker 1: when she asks him what he'd say. 223 00:12:16,280 --> 00:12:19,760 Speaker 8: If you had to describe Metcalf in five words, A. 224 00:12:20,040 --> 00:12:23,840 Speaker 7: Big poppers person spoke the andietype of thing just a 225 00:12:23,840 --> 00:12:27,719 Speaker 7: few words, A convent desateful, a conment. How could you 226 00:12:27,800 --> 00:12:35,079 Speaker 7: do it? That's not's sorry. 227 00:12:35,160 --> 00:12:37,560 Speaker 1: After speaking to Phil, I now want to go to 228 00:12:37,640 --> 00:12:41,719 Speaker 1: Geryalton and find out more. The missing money is proving elusive, 229 00:12:42,360 --> 00:12:44,880 Speaker 1: and so far it's harder to get a solid grasp 230 00:12:44,920 --> 00:12:47,679 Speaker 1: on it than I'd hoped. But maybe a trip to 231 00:12:47,720 --> 00:12:50,040 Speaker 1: the place at the center of it all will change that. 232 00:12:50,800 --> 00:12:53,360 Speaker 1: So the next morning, Nina and I begin the long 233 00:12:53,480 --> 00:12:57,680 Speaker 1: drive out of Perth and on to Geralton. In twenty 234 00:12:57,760 --> 00:13:01,680 Speaker 1: twenty three, a company named Avenue Perth studied thirty cities 235 00:13:01,679 --> 00:13:05,360 Speaker 1: in Australia to determine the most livable and least livable 236 00:13:05,360 --> 00:13:08,520 Speaker 1: town in the country based on the safety index from 237 00:13:08,520 --> 00:13:11,319 Speaker 1: the average cost of living, number of banks, and number 238 00:13:11,320 --> 00:13:15,440 Speaker 1: of restaurants. Geraldton took out the non coveted title of 239 00:13:15,640 --> 00:13:19,200 Speaker 1: least livable town in the country. A glance at the 240 00:13:19,240 --> 00:13:23,240 Speaker 1: crime statistics and the reviews left on local hotels doesn't 241 00:13:23,240 --> 00:13:27,520 Speaker 1: paint the brightest picture. Many people online suggested sleeping with 242 00:13:27,600 --> 00:13:29,640 Speaker 1: a chair against the motel room door. 243 00:13:30,720 --> 00:13:35,200 Speaker 8: So here was my question. As we drive into Jerylton. Oh, 244 00:13:35,240 --> 00:13:39,080 Speaker 8: we just walked Welcome to Geraldton. So we've just driven 245 00:13:39,160 --> 00:13:45,440 Speaker 8: into Jerylton. So my question was you I have the 246 00:13:45,440 --> 00:13:48,000 Speaker 8: impression that you're a bit of a type A personality. 247 00:13:48,040 --> 00:13:48,800 Speaker 8: What do you think about that? 248 00:13:49,600 --> 00:13:52,599 Speaker 1: I am a self confessed type A person Me and 249 00:13:52,679 --> 00:13:54,160 Speaker 1: my roommate both agree on that. 250 00:13:54,800 --> 00:13:57,320 Speaker 2: On that note, and very driven. 251 00:13:57,920 --> 00:14:00,000 Speaker 8: So what happens if you can't find the money? 252 00:14:00,640 --> 00:14:03,920 Speaker 1: I've tried everything I can think of outside of getting 253 00:14:04,200 --> 00:14:08,040 Speaker 1: court ordered documents, but at this point, a lot of 254 00:14:08,040 --> 00:14:10,559 Speaker 1: what I know about the money is just a lot 255 00:14:10,600 --> 00:14:14,079 Speaker 1: of conjecture from people who have theories that could range 256 00:14:14,080 --> 00:14:16,960 Speaker 1: anywhere from very plausible to very implausible. 257 00:14:19,280 --> 00:14:25,640 Speaker 8: Okay, so that's a very type bay answer. Emotionally, how 258 00:14:25,640 --> 00:14:28,560 Speaker 8: do you feel about if you can't find the money? 259 00:14:29,480 --> 00:14:32,960 Speaker 1: Well, I will feel like I've failed a bit in 260 00:14:33,000 --> 00:14:36,720 Speaker 1: a way because I have told people that I am 261 00:14:36,800 --> 00:14:39,120 Speaker 1: tracking the money. That's why I'm doing this podcast because 262 00:14:39,120 --> 00:14:41,720 Speaker 1: I'm trying to find their money. So I feel like 263 00:14:42,720 --> 00:14:44,240 Speaker 1: I'm not going to be able to tell them at 264 00:14:44,240 --> 00:14:46,160 Speaker 1: the end of it, I know where your money went, 265 00:14:46,600 --> 00:14:48,040 Speaker 1: not even that I wasn't able to find it. 266 00:14:48,080 --> 00:14:49,400 Speaker 2: I just don't know where it was spent. 267 00:14:50,760 --> 00:14:53,320 Speaker 1: So that will be a bit of a shame if. 268 00:14:53,160 --> 00:14:55,400 Speaker 8: I can't find it, because that's taking on a lot 269 00:14:55,440 --> 00:14:56,640 Speaker 8: of pressure. That's a lot of pressure. 270 00:14:57,360 --> 00:15:00,400 Speaker 1: Well, yeah, people reached out to me saying can you 271 00:15:00,440 --> 00:15:03,800 Speaker 1: do something? Can you kind of raise some awareness about 272 00:15:03,800 --> 00:15:06,560 Speaker 1: this and try to tell me where my money went? 273 00:15:07,520 --> 00:15:09,400 Speaker 2: And so far don't have an answer. I have a 274 00:15:09,440 --> 00:15:10,880 Speaker 2: lot of theories. 275 00:15:11,840 --> 00:15:14,800 Speaker 1: And hopefully we confirm some of them up and we 276 00:15:14,800 --> 00:15:19,880 Speaker 1: can cross some of them out as what's happened body? 277 00:15:19,920 --> 00:15:22,800 Speaker 2: What do you think that you What do you think 278 00:15:22,840 --> 00:15:23,600 Speaker 2: when you kind of. 279 00:15:23,600 --> 00:15:26,640 Speaker 1: Set out to answer a question in a story and 280 00:15:26,720 --> 00:15:28,840 Speaker 1: you get to this point where it's not looking like 281 00:15:28,880 --> 00:15:31,160 Speaker 1: you can you have a kind of solid answer on it. 282 00:15:32,600 --> 00:15:36,320 Speaker 8: I think the journey is the journeys as an answer, 283 00:15:36,600 --> 00:15:38,360 Speaker 8: here's the non type a response. 284 00:15:38,480 --> 00:15:42,440 Speaker 9: What's the expression The journey beats the destination? 285 00:15:43,520 --> 00:15:46,040 Speaker 8: Maybe the money was the friends we made along the way. 286 00:15:48,920 --> 00:15:52,440 Speaker 1: After a long drive five and a bit hours, we 287 00:15:52,600 --> 00:15:56,320 Speaker 1: arrive our dead Huntsmand greets me on the welcome out 288 00:15:56,320 --> 00:15:59,480 Speaker 1: of my motel room. Next time I notice it the 289 00:15:59,560 --> 00:16:03,920 Speaker 1: spiders not so dead. Body has moved slightly. The area 290 00:16:04,000 --> 00:16:07,880 Speaker 1: looks like any other quiet coastal town, long stretches of road, 291 00:16:08,440 --> 00:16:11,440 Speaker 1: drought plagued patches of grass, and plenty of fly in 292 00:16:11,600 --> 00:16:14,520 Speaker 1: fly out miners around the place, driving up the price 293 00:16:14,520 --> 00:16:15,320 Speaker 1: of coffee. 294 00:16:16,000 --> 00:16:16,920 Speaker 2: Do you want to get something? 295 00:16:17,120 --> 00:16:19,480 Speaker 5: Yeah? 296 00:16:20,080 --> 00:16:21,640 Speaker 8: How do you think we're going about blending in? 297 00:16:22,320 --> 00:16:26,360 Speaker 1: We are not doing great. Nina's big microphone stands out 298 00:16:26,400 --> 00:16:29,960 Speaker 1: on the bright and sunny foreshore. It's hard to see 299 00:16:30,000 --> 00:16:33,080 Speaker 1: Allan's vision to turn this place into a virtual village, 300 00:16:33,720 --> 00:16:35,960 Speaker 1: but maybe the people that live here have another view 301 00:16:36,000 --> 00:16:39,120 Speaker 1: on things. We ask a couple of ladies walking by 302 00:16:39,280 --> 00:16:42,320 Speaker 1: if they think Geralton could be Australia's Silicon Valley. 303 00:16:42,520 --> 00:16:45,760 Speaker 9: Don't know anything about it? 304 00:16:45,000 --> 00:16:46,520 Speaker 10: Is it a mine? 305 00:16:46,720 --> 00:16:49,760 Speaker 1: I see? Silicon Valley is like this really innovative place 306 00:16:49,760 --> 00:16:53,400 Speaker 1: in America where all their startups begin, Like Google all 307 00:16:53,480 --> 00:16:56,320 Speaker 1: kind of started from Silicon Valley, so it's kind of 308 00:16:56,320 --> 00:16:59,040 Speaker 1: seen as this really entrepreneurial. 309 00:16:58,160 --> 00:17:00,000 Speaker 8: Place to be technology. 310 00:17:00,200 --> 00:17:03,400 Speaker 1: Yeah, a real tech take your own place. Why wouldn't 311 00:17:03,400 --> 00:17:04,119 Speaker 1: you go to Perth for that? 312 00:17:04,359 --> 00:17:05,840 Speaker 4: Or are you look they're looking for. 313 00:17:05,800 --> 00:17:08,159 Speaker 2: Somewhere different to Perth or yeah, I don't know. 314 00:17:08,320 --> 00:17:11,240 Speaker 10: We're the biggest regional town normal. 315 00:17:11,000 --> 00:17:15,800 Speaker 7: Per But so you don't think that would be a 316 00:17:15,840 --> 00:17:16,359 Speaker 7: good idea. 317 00:17:16,880 --> 00:17:19,000 Speaker 11: I just feel like during lax a little bit. 318 00:17:20,200 --> 00:17:22,520 Speaker 1: So if Geraldon was never going to cut it as 319 00:17:22,560 --> 00:17:25,720 Speaker 1: a tech center, why would Allan be so interested in 320 00:17:25,760 --> 00:17:28,520 Speaker 1: the town? A local couple fills us. 321 00:17:28,440 --> 00:17:32,520 Speaker 11: In Mainly because there are people with money and sometimes 322 00:17:32,600 --> 00:17:37,040 Speaker 11: you have limited ideas if you don't have a financial advisor, 323 00:17:37,119 --> 00:17:39,720 Speaker 11: you just think, oh wow, that sounds great, that sounds 324 00:17:40,280 --> 00:17:44,040 Speaker 11: like it could work, but maybe they don't do the research. 325 00:17:44,119 --> 00:17:47,320 Speaker 11: So because there is some money here, because we've got 326 00:17:47,359 --> 00:17:50,960 Speaker 11: the farming, Yeah, we've got the farming. We've got also 327 00:17:51,160 --> 00:17:53,800 Speaker 11: the gray fish industry, there are people with money here, 328 00:17:53,880 --> 00:17:56,320 Speaker 11: and if you're wanting to grow your money and invest 329 00:17:57,040 --> 00:18:00,040 Speaker 11: I'd say that would probably be the reasons maybe the 330 00:18:00,119 --> 00:18:04,280 Speaker 11: reasons why. And it's a remoteness from the city as well. 331 00:18:04,760 --> 00:18:08,240 Speaker 11: And there is also a little bit of a small town, 332 00:18:08,480 --> 00:18:12,120 Speaker 11: small community mentality too, so you tend to trust people 333 00:18:12,200 --> 00:18:13,240 Speaker 11: that comes into town. 334 00:18:14,160 --> 00:18:16,920 Speaker 1: There are many investors in town, but not many willing 335 00:18:16,960 --> 00:18:20,080 Speaker 1: to talk to us. Some are still true believers in 336 00:18:20,119 --> 00:18:23,440 Speaker 1: Allan's vision and others just don't want to think about 337 00:18:23,480 --> 00:18:24,359 Speaker 1: Safe World ever. 338 00:18:24,400 --> 00:18:24,760 Speaker 6: Again. 339 00:18:25,480 --> 00:18:28,640 Speaker 1: One man is open to a visit, though, Warren Bardon, 340 00:18:29,040 --> 00:18:31,520 Speaker 1: a distant cousin of Phil who we'd met in Perth. 341 00:18:32,840 --> 00:18:35,399 Speaker 1: Warren has lived in geraldon his whole life, and you 342 00:18:35,480 --> 00:18:38,240 Speaker 1: can tell because he wasn't breaking a sweat in the 343 00:18:38,320 --> 00:18:41,000 Speaker 1: non air conditioned house we met him in even though 344 00:18:41,040 --> 00:18:45,240 Speaker 1: the mercury was topping forty four degrees. Warren, his brother 345 00:18:45,359 --> 00:18:48,560 Speaker 1: and his dad invested in the Safe World's program through 346 00:18:48,680 --> 00:18:53,200 Speaker 1: Rod McKay, who Phil also mentioned. Unlike Phil, Warren didn't 347 00:18:53,240 --> 00:18:54,480 Speaker 1: know Rod beforehand. 348 00:18:55,160 --> 00:18:58,439 Speaker 6: He was sort of the main player in West Australia Safeworlds. 349 00:18:58,760 --> 00:19:02,359 Speaker 6: My brother was. He liked the idea and everyone he 350 00:19:02,440 --> 00:19:04,080 Speaker 6: spoke to one of the pieces of the. 351 00:19:04,119 --> 00:19:07,280 Speaker 1: Safewelds and you wanted a piece of it as well. Yeah, 352 00:19:07,320 --> 00:19:10,199 Speaker 1: so what did they say to you? What did you 353 00:19:10,240 --> 00:19:12,000 Speaker 1: think it was that made you want a piece of it? 354 00:19:12,280 --> 00:19:16,280 Speaker 6: Well, mainly pushing the idea that it's a lot better 355 00:19:16,280 --> 00:19:22,000 Speaker 6: than Google and it'll overtake Google. We will finish up 356 00:19:22,040 --> 00:19:24,600 Speaker 6: having its own banking systems and all sorts like that. 357 00:19:24,600 --> 00:19:27,159 Speaker 6: We were told Alan when he come across here. He 358 00:19:27,280 --> 00:19:30,360 Speaker 6: said that basically Google at the time was worth ran 359 00:19:30,400 --> 00:19:33,360 Speaker 6: about thousand dollars a year, and everybody sort of said, wow, 360 00:19:33,960 --> 00:19:36,520 Speaker 6: it's worth checking some money out. So everyone sort of 361 00:19:36,520 --> 00:19:37,439 Speaker 6: just jumped on board with it. 362 00:19:38,160 --> 00:19:40,760 Speaker 1: When Alan flew into Geraldton and held a meeting for 363 00:19:40,840 --> 00:19:45,320 Speaker 1: potential investors in town, Warren went along. He can't remember 364 00:19:45,359 --> 00:19:47,840 Speaker 1: when it was, though he did start investing in two 365 00:19:47,880 --> 00:19:48,720 Speaker 1: thousand and nine. 366 00:19:49,280 --> 00:19:50,760 Speaker 2: Where was the meeting? Was it in a kind of 367 00:19:50,800 --> 00:19:51,679 Speaker 2: town hall or. 368 00:19:53,280 --> 00:19:56,000 Speaker 6: Down the Ocean center down there? The conference room there, 369 00:19:56,400 --> 00:19:57,920 Speaker 6: and we might ed to check that out in the 370 00:19:57,960 --> 00:19:59,000 Speaker 6: middle of town there. 371 00:19:58,920 --> 00:20:02,080 Speaker 2: And were there many people? How many people? 372 00:20:02,880 --> 00:20:03,760 Speaker 6: In thirty or forty? 373 00:20:03,800 --> 00:20:06,760 Speaker 2: There was he showing you anything, showcasing anything. 374 00:20:06,880 --> 00:20:09,520 Speaker 6: I remember he did try to shower something on the computer, 375 00:20:09,640 --> 00:20:11,200 Speaker 6: but he couldn't get it sort of work, and probably 376 00:20:11,240 --> 00:20:14,600 Speaker 6: can sort of blame Telta or something that anyway, So 377 00:20:15,119 --> 00:20:18,080 Speaker 6: he just kept talking about how great it was. 378 00:20:18,920 --> 00:20:21,919 Speaker 1: Even with the text crew up. Warren was convinced and 379 00:20:21,960 --> 00:20:25,280 Speaker 1: put in some money. The next time Alan came to town, 380 00:20:25,359 --> 00:20:26,440 Speaker 1: it was more eventful. 381 00:20:26,720 --> 00:20:29,040 Speaker 6: The second meeting, a couple of people just walked down 382 00:20:29,080 --> 00:20:32,800 Speaker 6: the meeting. Really, I remember Alan saying, well, then they 383 00:20:32,880 --> 00:20:34,679 Speaker 6: run to walkout if they want to walk out something. 384 00:20:35,640 --> 00:20:37,520 Speaker 2: Well, do you know why they walked out? 385 00:20:37,760 --> 00:20:39,520 Speaker 6: I think they thought it wasn't going to happen. 386 00:20:40,880 --> 00:20:45,119 Speaker 1: Yeah, well that's kind of pretty like strong reaction to it. 387 00:20:45,200 --> 00:20:46,800 Speaker 2: Were you were you tempted to walk out? 388 00:20:47,119 --> 00:20:47,320 Speaker 1: No? 389 00:20:47,440 --> 00:20:50,480 Speaker 6: Not really no, no, yeah, Like I said, he's got 390 00:20:50,480 --> 00:20:53,919 Speaker 6: the idea. And when you speak to people like Rod McKay, 391 00:20:53,960 --> 00:20:57,119 Speaker 6: well he was actually really on the committee apparently, and 392 00:20:57,119 --> 00:21:00,320 Speaker 6: he was on the board or whatever you say. He's 393 00:21:00,359 --> 00:21:03,080 Speaker 6: a very honest person. And I heard he put quite 394 00:21:03,119 --> 00:21:06,040 Speaker 6: a bit of money in it. And so you work 395 00:21:06,080 --> 00:21:08,960 Speaker 6: on trust when you're working with those or meet those 396 00:21:09,000 --> 00:21:09,880 Speaker 6: sort of people. 397 00:21:09,760 --> 00:21:14,280 Speaker 1: You know, working on trust. Warren ended up investing big time. 398 00:21:14,680 --> 00:21:17,240 Speaker 6: I think I finished up putting him about twenty twenty 399 00:21:17,280 --> 00:21:20,800 Speaker 6: thousand in. I bought shares for me kids, you know, 400 00:21:20,800 --> 00:21:22,560 Speaker 6: a couple of thousand shares each, sort of two and 401 00:21:22,600 --> 00:21:24,560 Speaker 6: half thousand shares each, just in case it did take 402 00:21:24,560 --> 00:21:26,719 Speaker 6: off and it was going to be as good as 403 00:21:26,720 --> 00:21:29,399 Speaker 6: what they said, Well, children would have been happy with me. 404 00:21:30,119 --> 00:21:33,440 Speaker 1: Later on, doubts slithered into Warren's mind. 405 00:21:33,720 --> 00:21:36,119 Speaker 6: I sort of was wondering myself why he would come 406 00:21:36,160 --> 00:21:40,080 Speaker 6: all the way from Queensland to try and raise money 407 00:21:40,560 --> 00:21:44,320 Speaker 6: in Drip in Western Australia. It was so good. Should 408 00:21:44,320 --> 00:21:46,679 Speaker 6: have been able to raise enough money over in Queensland 409 00:21:46,680 --> 00:21:47,480 Speaker 6: and over his coast. 410 00:21:48,160 --> 00:21:50,720 Speaker 1: And he started to notice that Alan was changing the 411 00:21:50,760 --> 00:21:51,640 Speaker 1: price of shares. 412 00:21:52,280 --> 00:21:54,320 Speaker 6: The share price has gone up and down all the time, 413 00:21:54,920 --> 00:21:59,160 Speaker 6: you know, so when they needed more money, they dropped 414 00:21:59,160 --> 00:22:02,840 Speaker 6: the price to shares, gave people a bonus shares if 415 00:22:02,880 --> 00:22:04,920 Speaker 6: they can buy a block of fifty thousand shares. 416 00:22:05,720 --> 00:22:07,960 Speaker 2: Yeah, what do you think about that? Because that sounds 417 00:22:08,000 --> 00:22:09,200 Speaker 2: like it's almost. 418 00:22:09,080 --> 00:22:10,760 Speaker 6: I think it's a bit unfair. And the people that 419 00:22:10,920 --> 00:22:14,440 Speaker 6: bought in earlier, and the people that bought in for say, 420 00:22:14,960 --> 00:22:18,000 Speaker 6: I heard some people paid five dollars a share. I 421 00:22:18,040 --> 00:22:20,520 Speaker 6: think it was unfair when he dropped the share plaster 422 00:22:20,560 --> 00:22:23,200 Speaker 6: a dollar share, I think it was unfair for those people. 423 00:22:24,359 --> 00:22:28,000 Speaker 1: Going through the trail of emails Alan left behind which 424 00:22:28,000 --> 00:22:31,200 Speaker 1: investors have sent to me, I learned some people were 425 00:22:31,240 --> 00:22:34,600 Speaker 1: sold shares in Safe Worlds for as little as ten cents, 426 00:22:34,880 --> 00:22:37,800 Speaker 1: while others had to pay five dollars for the privilege, 427 00:22:38,480 --> 00:22:41,160 Speaker 1: and while Alan seemed to change what he was charging 428 00:22:41,200 --> 00:22:45,320 Speaker 1: different investors, he continued to drum up money. He was 429 00:22:45,440 --> 00:22:48,200 Speaker 1: encouraging Warren's father to lend him a further one hundred 430 00:22:48,280 --> 00:22:51,359 Speaker 1: thousand dollars, and he was nagging him while a bond 431 00:22:51,400 --> 00:22:56,040 Speaker 1: and family member was in hospital. With concerns mounting, Warren 432 00:22:56,080 --> 00:22:58,440 Speaker 1: and his family refused to invest anymore. 433 00:22:59,320 --> 00:23:01,320 Speaker 6: The thing that sort and we didn't even get any 434 00:23:02,080 --> 00:23:05,080 Speaker 6: financial reports one to start with it. But there was 435 00:23:05,119 --> 00:23:07,720 Speaker 6: no financial reports, What's where the money's gone, What's happened? 436 00:23:09,000 --> 00:23:11,199 Speaker 2: And what was this over the many years that you 437 00:23:11,280 --> 00:23:12,800 Speaker 2: were investor. 438 00:23:12,359 --> 00:23:15,360 Speaker 6: There, or from two thousand nine or when it was, 439 00:23:15,600 --> 00:23:18,920 Speaker 6: We never received any how the company's going real? 440 00:23:19,920 --> 00:23:23,159 Speaker 2: Actually did that kind of raise some alarm bells for you? 441 00:23:23,320 --> 00:23:23,520 Speaker 7: Yeah? 442 00:23:23,560 --> 00:23:26,600 Speaker 6: For sure? For sure. There's another another thing that worried 443 00:23:26,640 --> 00:23:29,160 Speaker 6: me when Allen was in drilt and he made a statement, 444 00:23:29,960 --> 00:23:32,560 Speaker 6: the company takes a lot of money to keep going. 445 00:23:32,840 --> 00:23:34,959 Speaker 6: It's taken two hundred and fifty thousand dollars a months. 446 00:23:35,560 --> 00:23:38,000 Speaker 6: He said that in public, and I thought, well, it 447 00:23:38,040 --> 00:23:38,960 Speaker 6: can't be possible. 448 00:23:40,480 --> 00:23:43,120 Speaker 1: We spend some time looking through Warren and his late 449 00:23:43,200 --> 00:23:47,640 Speaker 1: father's stock certificates. There's dozens of them. He's found them 450 00:23:47,680 --> 00:23:50,119 Speaker 1: all and laid them out on his dining room table. 451 00:23:50,960 --> 00:23:54,080 Speaker 1: These simple a four pieces of paper are the only 452 00:23:54,160 --> 00:23:57,280 Speaker 1: thing Alan gave shareholders as proof they had a stake 453 00:23:57,320 --> 00:24:01,520 Speaker 1: in Safe Worlds. For some, it's a reminder that their 454 00:24:01,560 --> 00:24:03,600 Speaker 1: involvement wasn't just a bad dream. 455 00:24:03,920 --> 00:24:06,280 Speaker 12: So look at this here it says this share was 456 00:24:06,320 --> 00:24:11,000 Speaker 12: made in twenty twelve, and this one was in twenty fourteen, 457 00:24:11,640 --> 00:24:14,840 Speaker 12: so in okay, so there was a bit slow for 458 00:24:14,920 --> 00:24:18,240 Speaker 12: that year. So twenty twelve, six hundred and thirty eight shares, 459 00:24:18,960 --> 00:24:22,560 Speaker 12: and then afterwards it was like less than thirty shares 460 00:24:22,840 --> 00:24:26,760 Speaker 12: made in that period of time, but then suddenly it 461 00:24:26,840 --> 00:24:30,400 Speaker 12: exploded the following year in twenty fourteen, another like three 462 00:24:30,480 --> 00:24:31,240 Speaker 12: hundred shares. 463 00:24:31,400 --> 00:24:33,560 Speaker 1: Oh well, look this is share number twelve hundred and 464 00:24:33,600 --> 00:24:36,879 Speaker 1: eighty four. It's over one thousand, like maybe not one 465 00:24:36,880 --> 00:24:40,040 Speaker 1: thousand people, but over one thousand certificates. 466 00:24:40,119 --> 00:24:41,199 Speaker 2: Certificates were issued. 467 00:24:42,119 --> 00:24:46,040 Speaker 1: The more certificates, the more money Alan got. This was 468 00:24:46,080 --> 00:24:48,960 Speaker 1: pretty eye opening for me. It's a way I can 469 00:24:48,960 --> 00:24:51,760 Speaker 1: figure out how many single investments were made into the 470 00:24:51,840 --> 00:24:56,639 Speaker 1: company and how frequently people were investing. War on certificates 471 00:24:56,680 --> 00:24:58,840 Speaker 1: are on a piece of paper with a green border 472 00:24:58,880 --> 00:25:02,080 Speaker 1: and an image of an E. It says Safe World's 473 00:25:02,080 --> 00:25:05,760 Speaker 1: Internet Television, Inc. To the left side at leasts what 474 00:25:05,960 --> 00:25:09,320 Speaker 1: number this share certificate is, and on the other side 475 00:25:09,359 --> 00:25:12,560 Speaker 1: it states how many shares you're getting for it. Warren 476 00:25:12,600 --> 00:25:15,960 Speaker 1: has signed the document I'm describing and bought two thousand shares. 477 00:25:16,960 --> 00:25:19,840 Speaker 1: There's an official looking gold seal that sits in between 478 00:25:19,840 --> 00:25:22,600 Speaker 1: the signatures of Alan and his wife Mary at the 479 00:25:22,600 --> 00:25:26,720 Speaker 1: bottom of the certificate. From speaking to other investors, I 480 00:25:26,800 --> 00:25:29,520 Speaker 1: know that one man's name was misspelled on his certificate. 481 00:25:30,080 --> 00:25:33,520 Speaker 1: Others waited months and even years to receive their certificate, 482 00:25:33,720 --> 00:25:37,760 Speaker 1: and in one case it never arrived. Then I noticed 483 00:25:37,760 --> 00:25:38,720 Speaker 1: something alarming. 484 00:25:39,640 --> 00:25:41,280 Speaker 2: What do you think about this on the back? Have 485 00:25:41,359 --> 00:25:43,600 Speaker 2: you read this stuff on the back of the share certificate? 486 00:25:43,760 --> 00:25:44,600 Speaker 2: Have you ever seen that? 487 00:25:46,400 --> 00:25:46,960 Speaker 7: Oh? 488 00:25:47,920 --> 00:25:52,480 Speaker 6: I've probably read it. But are these shares an issue 489 00:25:52,480 --> 00:25:54,200 Speaker 6: in Pennsylvania or somewhere apparently? 490 00:25:54,880 --> 00:25:57,320 Speaker 1: I know that Alan started the business in the US, 491 00:25:57,920 --> 00:25:59,840 Speaker 1: but I'm not sure why he would do that when 492 00:26:00,040 --> 00:26:02,800 Speaker 1: most of the time he was based in Australia. I 493 00:26:02,920 --> 00:26:05,439 Speaker 1: turn over Warren's certificate and there's a disclaimer. 494 00:26:06,119 --> 00:26:09,679 Speaker 13: It reads the securities represented by this certificate have been 495 00:26:09,720 --> 00:26:12,560 Speaker 13: acquired for investment and have not been registered under the 496 00:26:12,560 --> 00:26:15,280 Speaker 13: Securities Act of nineteen ninety three of the United States 497 00:26:15,480 --> 00:26:18,160 Speaker 13: or the securities laws of any state thereof, or any 498 00:26:18,160 --> 00:26:21,840 Speaker 13: other nation. These securities may not be sold or transferred 499 00:26:21,880 --> 00:26:24,920 Speaker 13: in the absence of such registration or an exemption they're 500 00:26:24,920 --> 00:26:28,040 Speaker 13: from under such Act and compliance with any applicable state 501 00:26:28,080 --> 00:26:29,520 Speaker 13: of foreign securities laws. 502 00:26:30,640 --> 00:26:33,680 Speaker 1: When I go back, I realized every certificate has this. 503 00:26:34,400 --> 00:26:37,800 Speaker 1: It certainly seems like a significant discovery, but maybe this 504 00:26:37,920 --> 00:26:41,000 Speaker 1: is all perfectly above board. I'll need to look into 505 00:26:41,040 --> 00:26:47,080 Speaker 1: this when I'm back in Sydney. Nina and I leave 506 00:26:47,119 --> 00:26:52,359 Speaker 1: Warren's house as the sun sets over Geraldton. It's interesting 507 00:26:52,440 --> 00:26:56,639 Speaker 1: how a lot of these people that invested, some of 508 00:26:56,640 --> 00:26:58,720 Speaker 1: them are not that upset about it, you know, even 509 00:26:58,720 --> 00:27:01,240 Speaker 1: though they invested like twenty five thand dollars. They've just 510 00:27:01,240 --> 00:27:03,080 Speaker 1: said we just got back from speaking to Warren barn 511 00:27:03,280 --> 00:27:04,320 Speaker 1: and he said that was money. 512 00:27:04,160 --> 00:27:06,960 Speaker 2: You could afford to lose. So these are successful people. 513 00:27:07,040 --> 00:27:11,320 Speaker 1: Not everybody has a spare twenty grant drop into a venture. 514 00:27:11,000 --> 00:27:12,720 Speaker 2: That may or may not take off. 515 00:27:13,480 --> 00:27:15,760 Speaker 1: Nina, what's your theory and why you think these people 516 00:27:15,760 --> 00:27:18,040 Speaker 1: who are obviously quite good at what they do and 517 00:27:18,440 --> 00:27:22,200 Speaker 1: are quite successful from a societal perspective, are still kind 518 00:27:22,200 --> 00:27:23,240 Speaker 1: of putting money. 519 00:27:23,040 --> 00:27:25,679 Speaker 2: And not doing any of this due diligence that they should. 520 00:27:25,440 --> 00:27:29,720 Speaker 8: Be because they've made their money in a non technology sector. 521 00:27:30,520 --> 00:27:33,440 Speaker 8: You know, they've made their money through farming, through property, 522 00:27:34,240 --> 00:27:36,440 Speaker 8: through you know, the old school ways that people would 523 00:27:36,440 --> 00:27:39,480 Speaker 8: make money. And then you've got this sort of smart 524 00:27:39,520 --> 00:27:41,680 Speaker 8: looking dude who seems to know what he's talking about 525 00:27:41,840 --> 00:27:47,560 Speaker 8: about technology, and he's saying all these buzzwords like AI, algorithm, Google, 526 00:27:48,160 --> 00:27:52,680 Speaker 8: LinkedIn words that like uniquet logic, Yeah, and you can 527 00:27:52,760 --> 00:27:55,720 Speaker 8: recognize them as being vaguely towards technology. But if you 528 00:27:55,720 --> 00:27:59,480 Speaker 8: don't know anything about technology, you know, you're not going to. 529 00:27:59,840 --> 00:28:01,520 Speaker 7: Know even how to look into that. 530 00:28:02,520 --> 00:28:04,800 Speaker 8: So I think that's the secret is he's finding people 531 00:28:05,000 --> 00:28:08,119 Speaker 8: who have goot amounts of money who are interested in 532 00:28:08,160 --> 00:28:14,280 Speaker 8: business who he can kind of fool about technology. Yeah, 533 00:28:14,280 --> 00:28:16,680 Speaker 8: because a lot of these people, like we spoke to 534 00:28:17,280 --> 00:28:20,360 Speaker 8: Phil London, I think, who worked in furniture retail. 535 00:28:20,160 --> 00:28:23,359 Speaker 1: Like as a kind of business owner. Then someone else 536 00:28:23,359 --> 00:28:26,919 Speaker 1: worked in the health sector. So these are successful people 537 00:28:27,040 --> 00:28:30,000 Speaker 1: that you know, their own properties and multiple properties. They 538 00:28:30,000 --> 00:28:32,919 Speaker 1: can drop fifty k on a project like this, But 539 00:28:33,080 --> 00:28:36,040 Speaker 1: they don't seem to have any of that background, and 540 00:28:36,080 --> 00:28:38,120 Speaker 1: they don't really seem to understand what the product is. 541 00:28:38,200 --> 00:28:40,960 Speaker 1: They just keep saying to me every person who've asked lately, 542 00:28:41,320 --> 00:28:43,240 Speaker 1: I've asked them, what do you think Safe Worlds is? 543 00:28:43,680 --> 00:28:45,000 Speaker 1: And they just say it was meant to be. 544 00:28:45,000 --> 00:28:46,600 Speaker 8: Bigger than Google, bigger than Google. 545 00:28:46,680 --> 00:28:49,640 Speaker 1: But when I ask them why, they can't actually explain 546 00:28:49,680 --> 00:28:51,560 Speaker 1: to me why, what about it was going to be 547 00:28:51,560 --> 00:28:54,000 Speaker 1: bigger than Google? They just keep saying that kind of 548 00:28:54,040 --> 00:28:59,000 Speaker 1: Google buzz phrase. Personally, I wouldn't put twenty thousand dollars 549 00:28:59,040 --> 00:29:02,360 Speaker 1: into something that was told me bigger than Google, but 550 00:29:02,400 --> 00:29:05,560 Speaker 1: I didn't understand what it actually did. But he was 551 00:29:05,560 --> 00:29:07,640 Speaker 1: a very good salesman from what I can understand. He 552 00:29:08,200 --> 00:29:11,520 Speaker 1: always came in a suit, even in Geraldton, which yesterday 553 00:29:11,680 --> 00:29:17,120 Speaker 1: was about forty nine degrees. At Warren Bardon's farm, which 554 00:29:17,200 --> 00:29:18,840 Speaker 1: is a little bit further inland, he said it hit 555 00:29:18,880 --> 00:29:22,040 Speaker 1: fifty degrees. But Alan metcalf is coming in a suit, 556 00:29:22,520 --> 00:29:25,840 Speaker 1: hiring out a conference center, putting out sandwiches, putting out 557 00:29:25,880 --> 00:29:28,640 Speaker 1: little finger food like sandwiches. Yeah, and he's there and 558 00:29:28,680 --> 00:29:31,760 Speaker 1: he's very convincing, and as one person said to me, 559 00:29:31,920 --> 00:29:34,160 Speaker 1: he was speaking like what he had in his hand 560 00:29:34,480 --> 00:29:37,719 Speaker 1: was gold, and that was really impressionable on these people. 561 00:29:40,840 --> 00:29:46,000 Speaker 1: We leave Allan's Promised Land. The next day, when I'm 562 00:29:46,000 --> 00:29:48,520 Speaker 1: back in Sydney, I can barely wait to speak with 563 00:29:48,560 --> 00:29:50,600 Speaker 1: an expert about these share certificates. 564 00:29:51,120 --> 00:29:53,640 Speaker 10: My name is Besta and A I am the investments 565 00:29:53,680 --> 00:29:56,120 Speaker 10: and portfolio manager at UNSW Founders. 566 00:29:56,880 --> 00:30:00,400 Speaker 1: Besta decides which startups the University of New southwayes should 567 00:30:00,480 --> 00:30:03,680 Speaker 1: back and which ones they shouldn't. I meet in her 568 00:30:03,720 --> 00:30:07,560 Speaker 1: office countless startup founders have no doubt sat in the 569 00:30:07,640 --> 00:30:10,840 Speaker 1: same chair I'm perched in, trying to convince her they'll 570 00:30:10,880 --> 00:30:14,040 Speaker 1: be the next Steve Jobs. Only I'm here for a 571 00:30:14,040 --> 00:30:17,200 Speaker 1: different reason. I show her the Safe World certificate. 572 00:30:17,640 --> 00:30:20,520 Speaker 10: It doesn't sound legitimate at all. It doesn't sound like 573 00:30:20,560 --> 00:30:23,360 Speaker 10: they had any of the right legal documents in place. 574 00:30:23,400 --> 00:30:26,160 Speaker 10: I mean, these people should have all received like shareholders 575 00:30:26,240 --> 00:30:30,080 Speaker 10: agreements and were completely over the process. 576 00:30:30,160 --> 00:30:33,760 Speaker 1: It says it's cocorporated under the laws of Pennsylvania, but 577 00:30:33,920 --> 00:30:36,480 Speaker 1: then on the back it says it's not incorporated under 578 00:30:36,520 --> 00:30:37,080 Speaker 1: any law. 579 00:30:37,560 --> 00:30:40,440 Speaker 10: I think the disclaimer throws me. I think that's the 580 00:30:40,440 --> 00:30:42,560 Speaker 10: main part. Yeah, it's weird, isn't it. 581 00:30:43,360 --> 00:30:46,240 Speaker 1: BESTA taps away on her laptop and turns it around 582 00:30:46,240 --> 00:30:48,760 Speaker 1: so I can see the screen. So you've just pulled 583 00:30:48,840 --> 00:30:51,719 Speaker 1: up an example of what a legitimate share certificate looks like. 584 00:30:52,160 --> 00:30:55,240 Speaker 1: Just describe to me what you're looking at and how 585 00:30:55,320 --> 00:30:57,440 Speaker 1: it's different to that other document I showed you. 586 00:30:58,040 --> 00:31:00,920 Speaker 10: The difference is that it actually says that the company 587 00:31:00,960 --> 00:31:04,000 Speaker 10: is incorporated in New South Wales under the Corporation's Act, 588 00:31:04,840 --> 00:31:08,960 Speaker 10: so it is registered in Australia, unlike the other one, 589 00:31:09,000 --> 00:31:12,040 Speaker 10: than not being registered in the US or anywhere anywhere. 590 00:31:12,200 --> 00:31:16,200 Speaker 1: Yeah, so how many pages is this document? At least 591 00:31:16,440 --> 00:31:19,040 Speaker 1: thirty pages from the look of it, and this is this. 592 00:31:19,160 --> 00:31:22,600 Speaker 10: Much longer, you know, depending on I guess at what 593 00:31:22,640 --> 00:31:25,160 Speaker 10: stage the company is raising capital and how much funding 594 00:31:25,160 --> 00:31:28,360 Speaker 10: and how many shareholders coming in. Yeah, but basically these 595 00:31:28,400 --> 00:31:32,480 Speaker 10: are all the different rights and how it works. If 596 00:31:32,520 --> 00:31:35,719 Speaker 10: a company was to change anything in their shareholding. 597 00:31:35,320 --> 00:31:38,080 Speaker 1: And these people just direct transferred to him and got 598 00:31:38,120 --> 00:31:41,680 Speaker 1: their shares to forget two months later or never, So what. 599 00:31:42,640 --> 00:31:43,440 Speaker 7: Do you think about that? 600 00:31:44,080 --> 00:31:46,840 Speaker 10: Maybe they're not actually shareholders, like maybe they just took 601 00:31:46,880 --> 00:31:47,320 Speaker 10: their money. 602 00:31:50,600 --> 00:31:53,080 Speaker 1: I've been trying to figure that out, and I thought 603 00:31:53,200 --> 00:31:57,000 Speaker 1: Geraldon might have the answer. Although I had to return 604 00:31:57,040 --> 00:32:00,960 Speaker 1: home mostly empty handed, I feel close defining the money 605 00:32:01,160 --> 00:32:04,480 Speaker 1: and understanding the man who took it, and more inspired 606 00:32:04,520 --> 00:32:08,040 Speaker 1: to do so. For the record, while I didn't see 607 00:32:08,080 --> 00:32:12,320 Speaker 1: Geraldton as Australia's Silicon Valley, the scenery was beautiful and 608 00:32:12,360 --> 00:32:15,320 Speaker 1: the people were kind and welcoming, I don't think it 609 00:32:15,360 --> 00:32:18,880 Speaker 1: lived up to the least Livable City title. My biggest 610 00:32:18,880 --> 00:32:21,320 Speaker 1: takeaway from the trip is that the key to gaining 611 00:32:21,360 --> 00:32:24,040 Speaker 1: followers to your cause is to have a true believer 612 00:32:24,160 --> 00:32:26,640 Speaker 1: by your side, a man of the people who can 613 00:32:26,680 --> 00:32:31,000 Speaker 1: proselytize on your behalf. That man, for Alan was Rod McKay. 614 00:32:31,760 --> 00:32:34,400 Speaker 1: While I tried many times to have a chat with Rod, 615 00:32:34,720 --> 00:32:38,920 Speaker 1: my attempts were futile until finally I got this short response. 616 00:32:39,480 --> 00:32:41,200 Speaker 1: A voice actor is reading it out. 617 00:32:42,160 --> 00:32:45,000 Speaker 14: What is your agenda with Safe Worlds and or what 618 00:32:45,240 --> 00:32:49,240 Speaker 14: are you trying to achieve? Any suggestions that safe world 619 00:32:49,320 --> 00:32:52,520 Speaker 14: is a scam are misleading. Proof of this is the 620 00:32:52,560 --> 00:32:57,200 Speaker 14: review of the software by a leading academic INAI I. 621 00:32:57,240 --> 00:32:59,840 Speaker 1: Tell him I'm looking for the missing money. There are 622 00:32:59,840 --> 00:33:04,160 Speaker 1: no more messages from him. Rod was Allen's most devoted disciple. 623 00:33:04,800 --> 00:33:07,640 Speaker 1: But as I would soon discover cracks were appearing in 624 00:33:07,680 --> 00:33:11,280 Speaker 1: his faith, he would turn on the man he most respected, 625 00:33:11,640 --> 00:33:13,880 Speaker 1: and he would go on to become the biggest enemy 626 00:33:13,920 --> 00:33:17,720 Speaker 1: of safe worlds, a judas in the eyes of the Metcalfs. 627 00:33:18,120 --> 00:33:21,440 Speaker 14: The time for delusion is over. You have overseen the 628 00:33:21,440 --> 00:33:25,600 Speaker 14: demise of a fifty million dollar company made up predominantly 629 00:33:25,880 --> 00:33:27,320 Speaker 14: of mum and dad investors. 630 00:33:27,600 --> 00:33:32,760 Speaker 9: Clayton, I pledge we commit to commercialize this technology and 631 00:33:32,840 --> 00:33:35,920 Speaker 9: take it to the world to fulfill his dream. I 632 00:33:36,000 --> 00:33:39,760 Speaker 9: know that this sounds impossible, but Jesus said, with men, 633 00:33:39,880 --> 00:33:43,640 Speaker 9: it's impossible, but not with God. For with God all 634 00:33:43,680 --> 00:33:44,720 Speaker 9: things are possible. 635 00:33:45,600 --> 00:33:49,080 Speaker 3: We are as anxious as all shareholders are to see 636 00:33:49,080 --> 00:33:52,280 Speaker 3: this matter concluded soon, and on the best of terms, 637 00:33:52,680 --> 00:33:55,000 Speaker 3: I am doing everything I can to achieve this. 638 00:33:55,640 --> 00:33:58,840 Speaker 7: Look after yourself and your shareholders who have committed themselves 639 00:33:58,920 --> 00:34:00,800 Speaker 7: to you and your hospital ideas. 640 00:34:01,560 --> 00:34:03,840 Speaker 14: Keep them close, as they are the only real thing 641 00:34:03,960 --> 00:34:05,320 Speaker 14: in this whole sorry affair. 642 00:34:06,040 --> 00:34:17,799 Speaker 1: That's next time on the Missing forty nine million. Thanks 643 00:34:17,880 --> 00:34:21,000 Speaker 1: for listening. A new episode is coming out weekly. Wherever 644 00:34:21,040 --> 00:34:24,120 Speaker 1: you get your podcasts, make sure you subscribe so you 645 00:34:24,200 --> 00:34:27,160 Speaker 1: don't miss an episode, head to news dot com dot 646 00:34:27,160 --> 00:34:29,880 Speaker 1: Au to read more of my reporting on this story. 647 00:34:30,320 --> 00:34:31,000 Speaker 2: Do you know more? 648 00:34:31,320 --> 00:34:34,680 Speaker 1: Get in touch through our dedicated tip inbox Missing Millions 649 00:34:34,719 --> 00:34:38,040 Speaker 1: at news dot com dot au or contact me directly 650 00:34:38,080 --> 00:34:41,399 Speaker 1: on Alex dot Turner, Dash Cohen at news dot com 651 00:34:41,400 --> 00:34:44,239 Speaker 1: dodau or look me up on Twitter to get my details. 652 00:34:44,840 --> 00:34:47,759 Speaker 1: I'm your host, Alex Turner Cohen. Nina Young is the 653 00:34:47,800 --> 00:34:52,080 Speaker 1: executive producer, sound design and editing by Tiffany Dimack. Our 654 00:34:52,200 --> 00:34:56,680 Speaker 1: editorial director is Dan Box. Grant McAvaney is our legal advisor, 655 00:34:56,800 --> 00:34:59,319 Speaker 1: and Kerrie Warren is the editor of News dot com 656 00:34:59,320 --> 00:35:02,640 Speaker 1: dood AU. Special thanks to our voice actors Jack Evans 657 00:35:02,640 --> 00:35:03,560 Speaker 1: and John ty Burton.