Marshal Shichtman is a lawyer based in New York and founder of Marshal Shichtman & Associates. Mr Shichtman is also the lawyer for Leybourne Holdings and friends with its Executive Chairman, Julian Bulman. Leybourne Holdings’ most recent client believes they scammed him and a respected Australian property developer, causing devastating financial loss to those with the misfortune to be parties to Leybourne Holdings’ contract: a contract drawn up by Marshal Shichtman. Below is a summary of Leybourne Holdings’ actions in relation to this contract.

Timeline of Leybourne Holdings’ Actions

• February 2010 – A newly finished multi storey building was for sale in an Australian capital city. The developer agreed to sell at $35 million USD to a prospective buyer who was very interested, but the buyer needed some financial backing. A solicitor he knew introduced him to Anthony McIlwain. Mr McIlwain presented himself as a friend and business associate of Julian Bulman of Leybourne Holdings (which was trading as LHL Concepts). LHL Concepts was a venture capital firm specialising in infrastructure developments and focussed on getting maximum investment for minimum initial outlay by their clients. McIlwain offered to introduce the buyer to Bulman and quoted $50,000 USD as an introduction fee.

• March 2010 – Leybourne Holdings took the buyer on as their client and a contract was drawn up by Marshall Shichtman. Shichtman also reassured the client of Leybourne Holdings credentials and vouched for them. Once the contract was signed, the client made a secured deposit of $1.5 million USD to Leybourne Holdings which was held by Barclays Wealth Bank, Geneva.

• April 2010 – Chief Financial Officer of Leybourne Holdings, Ian Williamson, applied for an extension from the developer’s bank. Leybourne Holdings now had until 30 April 2010 to settle Shichtman’s contract and pay the developer’s bank $35 million USD so their client could purchase the building.

• April – September 2010 – Bulman and Williamson stalled the transfer of the funds needed to settle Shichtman’s contract and buy the building. They wrote to several of the parties involved, promising that the money was on the way but it never arrived.

• May 2010 – the client contacted Barclays Bank and discovered that $250,000 USD of his secured deposit had been ‘loaned’ out to Leybourne Holdings, without his permission. The loan had been made by James Perrse, Managing Director, and friend of Williamson. Williamson wrote to his client and promised to refund the money, confirming that it was a “loan”.

• July 2010 – Williamson wrote an email to one party stating “categorically” that Leybourne Holdings would not honour the contract drawn up by Marshal Shichtman. Bulman wrote to his Australian lawyers – HWL Ebsworth, asking them to help him “find a way out” of the contract. HWL Ebsworth declined to provide assistance.

• August 2010 – Leybourne Holdings continued to stall their client, the developer, the banks and solicitors. In the meantime, the building went into Administration and the developer was forced to file for voluntary bankruptcy. His life’s work had been destroyed.

• September 2010 – HWL Ebsworth received no further contact from Leybourne Holdings, Bulman or Williamson. Their legal bill went unpaid. Leybourne Holdings refused to speak to anyone involved, including their own client.

• September 2010 – present – the client continues to pursue his $250,000 USD which he has reported as stolen to the Australian Federal Police and Interpol. James Perrse and his manager, Oliver Grinn, refunded the remainder of his deposit but refuse to replace the $250,000 USD they ‘loaned’ to Leybourne Holdings without his permission. McIlwain continues to aggressively pursue payment from the client for the introduction service, which has now been invoiced at $450,000 USD.

Summary

Marshal Shichtman has said, for the record that “This is the most fucked up deal I have ever seen” and “... this would look like a fraud.” Perhaps when Interpol catches up with Bulman and Williamson, a jury will decide on culpability and where it lies.