BANKRUPT: Zane Samuels.
BANKRUPT: Zane Samuels.

Report reveals Samuels logs out

A FORMER Mooloolaba man who made national headlines when he went head-to-head with online auction site eBay, has reportedly declared bankruptcy.

Zane Samuels captured national attention in 2006 when, at the age of 18, he announced he planned to be the next Richard Branson and launched his own online auction site Auction Australia.

But the school drop-out’s plans went badly wrong and the site eventually sank without a trace, leaving at least nine investors owed a reported $110,000.

Even then Mr Samuels made the bold claim he was a victim of circumstances and could make the auction site a goer ... if investors came up with another $500,000.

They didn’t and as some of the original investors continued to chase their money, Mr Samuels reportedly declared bankruptcy on September 12 last year.

The Daily Examiner newspaper in Grafton, where Mr Samuels lived prior to moving to the Sunshine Coast, reported his mother Christina – who handled much of his promotion – also declared bankruptcy on December 23 last year.

Auctions Australia has not traded since November 2007 and the Samuels family is believed to have moved to the ACT, where reports put Mr Samuels either managing a fast-food outlet or working in real estate.



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