Australians: Our Wealthy are Just as shonky as everyone else.
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Scotch College student: family had high hopes for entrepreneur
Date June 12, 2015
Marissa Calligeros, Allison Worrall, Timna Jacks
Alexander Beniac-Brooks.
Photo: Facebook.
The family of a Scotch College student behind a get-rich-quick scheme had faith in his entrepreneurial skills and high hopes for his future.
"I am so very proud to call him my brother because he is so talented and already a success at 17 (his success started at 14/15)," his sister wrote online.
"One day he will be a buzzing entrepreneur (he already is) and will have the world falling at his feet. He is amazing!
The ill-fated start-up has reportedly left Scotch College students tens of thousands of dollars in the red.
Photo: Gary Medlicott
"He has already made a name for himself around town...I believe Alexander is all about making change [not only] within his own, but others' lives."
That was before Alexander Beniac-Brooks' online business venture, importing luxury watches, clothes and sneakers, collapsed owing more than $185,000 to schoolboy investors.
Mr Beniac-Brooks reportedly traded in Rolex watches and luxury brands Gucci and Louis Vuitton, importing the goods and selling them via a private Facebook page.
An excerpt from the online blog praising Alexander Beniac-Brooks.
It has been reported that one student lost $150,000 in the business venture, which collapsed about two weeks ago.
It has also been revealed that a number of students from at least five private Melbourne schools were caught up in the scheme.
Students from Melbourne Grammar, Haileybury, St Kevins, Trinity and Brighton Grammar reportedly invested in the business.
Alexander Beniac-Brooks.
Photo: Facebook.
A source told Fairfax Media the business had investors from a group of elite Melbourne schools: "All private school kids anywhere from Brighton [Grammar] to Scotch."
Adults outside the school were also caught up in the scheme.
Trinity Grammar principal Michael Davies said the school has been made aware that some of its students had invested in the scheme.
"We were made aware of this situation in term one [through] our community because this isn't something that happened in our school," Dr Davies told Fairfax Media.
"We immediately investigated and we found that a small amount of money was passed on from four boys to be invested. We shut it down immediately and all the money was returned.
"I was very satisfied with how we acted as a school and I can say that it was completely shut down at Trinity."
Fairfax Media has been told Mr Beniac-Brooks' father has met the student investors in regard to his son's debts after the business collapsed.
Detectives from the Boroondara Crime Investigation Unit are examining the case to determine whether a crime was committed, after receiving reports regarding possible deception.
"A number of victims reported the matter to police yesterday," Constable Bernadette Smith said.
"At this stage it would be inappropriate to make further comment."
A spokesman for Scotch College, which charges more than $25,000 a year for senior students, said "the school's view is that this is a matter for the families and individuals involved".
Mr Beniac-Brooks has expensive taste in clothing, as evident in a video posted online last month.
He speaks of his love for fashion and shoes in the video, saying he draws inspiration from European styles.
He also says he plans to move overseas to "live the lifestyle I enjoy".
"I sort of want to do my entrepreneurship course and expand the businesses I already have," he says in the video.
"I can collect shoes and look at fashion and things."