Explore about the Famous Karl Suleman, who was born in Iraq on April 16, 1961. Analyze Karl Suleman’s net worth, age, bio, birthday, dating, height-weight, wiki. Investigate who is Karl Suleman dating now? Look into this article to know how old is Karl Suleman?
Karl Suleman Birthday Countdown
Karl Suleman Biography
Born in Iraq on 16 April 1961 Assyrian Born Suleman, was only two years old when his father Emanuel, an air force captain, died in a plane crash. His mother Najiba, widowed at the age of 19, brought him to Australia in 1976 to live with his uncle. After leaving school Suleman worked as a storeman and packer. In 1989 he bought a 7-Eleven store, and a second one in the early 1990s. It was also about that time that he saw there was money to be made in the retrieval of shopping trolleys, in early 2000s suleman launched his internet company Froggy.
Suleman started the trolley business in 1993, providing trolley collections from supermarkets stretching from Cairns to Adelaide. Supermarkets paid Suleman an agreed fee out of which he paid subcontractors to do the work.
The District Court heard 15 people invested more than $3 million in Suleman’s supermarket trolley collection business in 2000 and 2001.
The company’s liquidators said in their report that between July 2000 and November 2001 the business made a net profit of $275,096 but was paying out $2 million a week to investors seeking high returns.
Suleman enterprises were placed into voluntary administration on 12 November 2001, soon after ASIC commenced proceedings before the NSW Supreme Court to close down an unregistered managed investment scheme operated by the company. KSE and several related companies within the Froggy Group were placed into liquidation.
between 1 March 2001 and 16 October 2001, on three separate occasions, Suleman made false statements to finance brokers with the intention of obtaining finance to purchase a $3.3 million Princess Motor yacht and a $360,000 Ferrari Modena.
On 22 July 2002, Suleman was ordered to pay $17.4 million in damages to KSE.
On 30 July 2002, Suleman the co founder of froggy internet was declared bankrupt, ASIC alleged that around 11 December 2000, Suleman used a false bank statement, which he gave to a finance broker, with the intention of obtaining finance in the amount of $355,000 to purchase a Ferrari Spyder 355.
In April 2004, Suleman was jailed for 21 months, with a 12-month non-parole period, for four fraud offences.
Two days shy of being released from a 21-month jail term in 2005 the corporate regulator struck again, laying 26 new charges.
Two years after being released from jail on 20 June 2013, 52-year-old Suleman suffered a heart attack at his home in Horningsea Park Sydney.
The founder of the Froggy Group – was sentenced to 7 and a half years jail after pleading guilty to 26 charges.
What's Karl Suleman Net Worth 2024
| Net Worth (2024) | $1 Million (Approx.) |
| Net Worth (2023) | Under Review |
| Net Worth (2022) | Under Review |
| Net Worth (2021) | Under Review |
| Net Worth (2020) | Under Review |
Karl Suleman Family
| Father's Name | Not Available |
| Mother's Name | Not Available |
| Siblings | Not Available |
| Spouse | Not Available |
| Childrens | Not Available |
