Three men to stand trial over Sterling Group's failed retiree housing scheme
Retirees were left floundering when the Sterling Group collapsed in 2019. (ABC News)
Three men linked to a failed housing scheme which left retirees across the country with huge financial losses have denied criminal charges levelled against them in a WA court.
Perth-based Sterling Group marketed its housing products to retirees and seniors as "the smart way to retire."
It's understood the prosecution will allege people paid large sums to secure supposedly long-term leases over properties, with most of the money going into a complex managed investment scheme which was meant to generate returns to cover the rent.
However, when the companies collapsed in May 2019, customers faced homelessness or were unable to pay their rent.
The Sterling Group marketed its products as the "smart way to retire." (ABC News)
An ASIC investigation led to the Sterling group's founder Raymond Owen Jones, his son Ryan Kentore Jones and another man, Simon Jasper Bell, being charged with a string of criminal offences.
The alleged offences include aiding and abetting a company to engage in dishonest conduct.
Raymond Jones is among those facing charges over the housing scheme. (ABC News: Abby Richards)
The men first appeared in the Perth Magistrates Court in November 2023.
On Wednesday, all three appeared in the Stirling Gardens Magistrates Court in Perth via video link.
They each entered not guilty pleas to the charges through their legal counsel.
Ryan Jones has denied the criminal charges against him. (ABC News: Abby Richards)
The three men spoke only to confirm they understood the conditions of their bail, which was renewed.
The matter has been committed to the WA Supreme Court, where the men are due to appear in March.
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