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Newcastle Herald
Newcastle Herald
Business
Donna Page

Secret deal with former Young Australian of the Year that cost Funda $2m

Funda directors Nathan Wright, left, and Mark Owen.

A SECRET deal between Funda directors Nathan Wright and Mark Owen and a company founded by a former Young Australian of the Year, who was later convicted of fraud, helped seal the fate of the Merewether lender that collapsed last year owing $10.5 million.

Details of the deal between Brad Smith's Braaap Motorcycles and small business lender Funda are laid bare in a confidential agreement signed in March 2022.

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