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Bates’ business acumen has been celebrated in the pages of the Australian Financial Review’s annual list of successful young businesspeople – but lately he has come under heavy criticism from his own investors and customers. But the shares in his companies are either registered to Bates himself, or to other businesses he controls, rather than those who have plunged their money into his enterprises, the Australian Financial Review reported.
Bates – who dressed as a cowboy at Francesca’s Barbie-themed birthday bash last year – reportedly received a total of about $15million from at least 15 different Australian investors for Aurum+ since 2016.