FIRST ON 7 – A man claiming Centrelink benefits while amassing a property empire worth millions left court Tuesday with only a fine and a suspended sentence.
Frank Biordi had built up a property portfolio of ten houses while crying poor at the same time and collecting the NewStart Allowance.
It was in 2009 when Biordi claimed to have fallen on tough times and applied for the dole.
The 48-year-old said he was living with his parents, with $5,000 to his name before pocketing $25,000 in welfare payments after his application was approved.
But the whole time he neglected to mention the 10 properties he owned across NSW.
Biordi bought his first property at Cessnock in 2002 before snapping homes around Sydney, the Illawarra and Goulburn – all worth $1.7 million.
Centrelink began investigating Biordi in October 2011 after a tip-off from the Australian Tax Office, but it took four years to get a conviction.
Biordi says he has paid back the $25,000 but the court slapped him with a 10-month suspended sentence and further $2,000 fine.
The welfare fraudster kept quiet outside the court, but his lawyer told 7 News: "I don't think he'd do it again."