Kenneth Charles Grace dead: Multi-millionaire con man is found dead in his Sydney motel on the same day he was due to be convicted of running a Ponzi scheme
A conman who defrauded millions of celebrity clients was found dead on the day he was due to be sentenced for running a Ponzi scheme.
The body of Kenneth Charles Grace, 58, was discovered at a motel in Sydney's CBD on Thursday The Daily Telegraph.
He was due to be sentenced at the Downing Center District Court that same day after pleading guilty in April 2023 to six charges of dishonest conduct relating to his investment fund, Goldsky.
Grace defrauded investors, including Olympians Sam Riley and Robbie McEwen, of around $24 million after claiming he could generate returns of up to 20 percent.
The body of Kenneth Charles Grace (pictured), 58, was discovered at a motel in Sydney's CBD on Thursday
When he failed to appear in court, a warrant was issued for his arrest.
“A report will be prepared for the coroner's information after the body of a 58-year-old man was found at a CBD motel last week,” a NSW Police spokesperson said.
'Officers from Surry Hills Police Area Command were called to a hotel on Foveaux St at around 1.15pm last Thursday (18 January 2024) after a man was found deceased in his room.'
Grace's company was liquidated in 2018 and his unfair practices were investigated in the Federal Court and the Supreme Court of Queensland.
Grace defrauded investors including Olympians Sam Riley (pictured, right) and Robbie McEwen (left) of around $24 million after claiming he could generate returns of up to 20 percent.
He was accused of using investor money to rent a private jet for his stepdaughter so she could fly from Queensland to Sydney to get breast implants.
He also rented a luxury house in Sydney Harbor with his own skippered motorboat “so he could clear his head” in the months before his fund collapsed.
Other victims of his Ponzi scheme included former AFL players Clark Keating who invested $100,000 and Simon Black who invested $80,000.