Sydney, Australia – A conman who defrauded celebrity clients of millions of dollars was found dead in a Sydney motel on the day he was scheduled to be sentenced for operating a Ponzi scheme. The body of Kenneth Charles Grace, 58, was discovered in a motel in Sydney’s CBD, where he was due to be sentenced at the Downing Centre District Court after pleading guilty to six charges of dishonest conduct in relation to his investment fund, Goldsky, in April 2023.
Accused of scamming investors, including Olympians Sam Riley and Robbie McEwen, out of approximately $24 million, Grace failed to show up in court, prompting a warrant for his arrest to be issued. The New South Wales Police spokesperson confirmed the discovery of the 58-year-old’s body and indicated that an investigation would be conducted for the coroner’s information.
Grace’s fraudulent business was liquidated in 2018, with the Federal Court and the Queensland Supreme Court investigating his illicit activities. Among his dishonest dealings, he used investors’ money to finance a private jet for his stepdaughter’s trip from Queensland to Sydney for breast implants. Furthermore, he rented a luxury Sydney Harbour home with a skippered motorboat in the months leading up to his fund’s collapse.
Former AFL players Clark Keating and Simon Black were among the victims of his Ponzi scheme, with Keating investing $100,000 and Black investing $80,000. The case exemplifies the devastating impact of financial fraud and the consequences it can have on unsuspecting victims.
In a tragic turn of events, Grace’s death underscores the complex and far-reaching effects of financial crimes. While his victims may find some relief in his absence, the repercussions of his actions will continue to reverberate. The investigation into his death and the legal aftermath of his crimes will shed further light on the extent of his deception and its enduring impact on those affected.