Lyn Newby claims that she and her husband invested more than $320,000 into grandson’s business – Jack Endersby’s trading business, Codex Investments – but she felt betrayed by whom she trusted.
She said she was so proud of his grandson who was living in the Crown Towers, in the Ritz Carlton, driving a nice car and had a posh office.
Last four days, 24-year-old grandson charged with allegedly running a Ponzi scheme and he’s accused of receiving about $2 million from victims across Australia.
Endersby worked in the following ways; clients had to invest money on the stock exchange and the business promises them a monthly return of 3%.
In 2020, Endersy boasted of managing a portfolio of about $2.2 million. 9 News reported.
Businesses with same way of working were alleged by police from 2021 and entered into several contracts.
Newby was warned by relatives about the business but said she didn’t have a clue until the day she heard the news of the alleged fraud.
“Is it true? Is there any way you can salvage my money?” Newby texted Endersby.
“No it is not true, I have it sorted for you. See you Tuesday,” he replied.
On Friday, Newby’s grandson will appear at Perth Magistrates Court on Friday, he’ll meet his grandmother face-to-face.
“He will feel terrible when he sees me and I want him to look at me in the eye and know how much he’s hurt me,” Newby said.