Mortgage Trader Ian Lazar files Bankruptcy proceedings against ICAC suspect ARLO SELBY‏

With his nifty style and close-cropped hair, 1920's gangster outfit disgraced property developer gone commodities trader Arlo Murray Selby could have been a financial master-of-the-universe character from central casting - if this had been the 1920s.

Talk of multi-million-dollar property developments tripped off his tongue, along with international deals, hanging out in the Sydney boardroom of disgraced investment bank Lehman Brothers.

Selby is now facing Bankruptcy proceedings by Sydney Mortgage Trader Ian Lazar.

On the 11th March 2013 judgment was obtained in the Supreme Court of Queensland for $7,468,423.88 against Arlo Murray Selby as guarantor for failing to pay mortgages held by Ian Lazar’s company Syndicate Mortgage Securities.

Sealed documents were issued last week against Selby seeking repayment of the judgement under the Bankruptcy Act together with interest for $8,246,068.83 which were today served on him personally by the NSW police whilst he was reporting for bail for charges of Fraud against Capital Finance and founder Harry Calleah of Credit Corp Limited.

Mr. Lazar said “since judgment of the debt we’ve been met with silence or no reasonable offer is forthcoming we're left with no alternative than to issue bankruptcy proceedings".

Selby was was named one of the most unreliable witnesses by the Commissioner of ICAC  in relation to the Coalworks Obeid ICAC Inquiry in 2013.


Selby's creditor are in excess of $50,000,000 which most of these debts were obtained by means of fraud and corrupt payments to bankers, valuers and relationships Selby obtained through his close association with Henry Kay and life coach Anthony Robins. It was reported in 2003 in the peak of the property boom that Selby paid in excess of $250,000 to go on a private jet with Mr. Robins and listen to his motivational sales speeches in succeeding in business.

Selby being an ultra religious Buddhist also donated from proceeds of the alleged criminal deception against Capital Finance and other creditors $200,000 to Kevin Jacobson promoter for the Dalai Lama to come to Australia, the show never went on and Bankrupt Kevin Jacobson is purportedly defending the claim that the money should not be returned on the basis it went to pay litigation costs against his brother Col Joy and is now party to the alleged trustee investigation.

Lazar said "This little turd was so quick to take my money six years ago and befriend me, get more money out of me, I'm not doing this to get my money, because he hasn't got any,  I'm doing this in principal. This is what should be done when there is legitimate debt to people who think they can get away with it".