Alex Puthenpurackal – $6.5 Million Fraud and Lawsuits

Alex Puthenpurackal is facing a lawsuit for defrauding Chinese wholesalers for $6.5 million. 

Allegedly, he never delivered the products he had sold to the wholesalers. These included vitamins, skincare products and milk powder. 

Alex Puthenpurackal is the owner of PharmaDeal Pharmacy based in Ascot Vale. The victims allege that he failed to provide them with the goods and has refused to issue refunds. 

However, the dispute has highlighted the increase in demand in China for health products from Blackmores, Swisse and similar firms. 

More Details on the Case Against Alex Puthenpurackal:

Documentation reveals that Alex breached his contractual obligations and engaged in misleading conduct against multiple forumer clients who are facing financial ruin because of him. 

According to the documentation, many of his victims have had to find employment in other states, work seven days a week, sell their homes or pull their kids out of private schools.

Furthermore, Blackmores, a vitamins giant has lodged a complaint against Alex Puthenpurackal in the NSW Supreme Court as well. However, the spokesperson of the firm didn’t share any details about how much damages they are pursuing. 

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Alex Puthenpurackal
(Source)

Also, Alex Puthenpurackal denies owing money to the vitamins company or the victims. In fact, he has filed counter-claims in several cases and alleges that they owe him millions of dollars. 

His lawyer has told the media that one of the creditors used the help of notorious underworld figure Mick Gatto to threaten their client. 

Mick Gatto
A photo of Mr Gatto

In May 2019, Gatto sent a text message to Alex. The message said that he wanted to have a coffee with him and sort “all this stuff out” with him. 

Furthermore, the text said that Alex had promised to call him but hadn’t. However, Mick Gatto refused to comment.

The victims have denied getting in touch with the underworld figure. 

“We are Devastated” – What the Victims of Alex Puthenpurackal Say

In a sworn statement to police and court documents, Jie Li, one of the victims said that in June 2017, Alex had instructed him to make prepayments on all orders because that’s how wholesale trade worked. 

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However, Li highlighted that the delivered stock couldn’t be reconciled with the payments within months. Between February 2017 and August 2018, his company had paid Alex Puthenpurackal’s company $42,366,881 but only received stock worth $37,593,900. 

Alex revealed in an email that he owed debt to Li. Also, he outlined a repayment plan for $5.4 million in four installments. 

Alex Puthenpurackal

Li had hired several forensic accountants to look into the matter and their report revealed that Alex had failed to deliver $5.2 million worth of stock. 

He told the media that he and his wife were devastated. They don’t know what to do as they have lost their life savings, and their parents’ savings. Alex’s actions forced them to sell two homes and take their kids out of school. 

“I had to Start Working 7 Days a Week” 

Another victim of this pharmacy owner is Vivian Luan. She issued a legal writ in the Victorian Supreme Court. According to court documentation, she claims Alex owes her $895,786 on skin-care products he failed to deliver. 

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She has several emails where Alex seems to accept that he owes her the money and wants to arrange for repayment. 

According to their discussions, the parties had arrived at the conclusion that Alex Puthenpurackal owed $889,661.55 and promised to refund this on 10-08-10. 

However, the money never arrived. 

The victim told the media that she had to work seven days a week since she filed the case against the pharmacy owner. Also, the financial hardship led to major differences between her and her extended family, who lost money in her business because of Alex. 

When the media asked if she had got in touch with Mr Gatto, she denied. 

What Alex Puthenpurackal’s Lawyer Said on the Matter:

Alex’s lawyer said that they will vigorously defend all the claims made against him and issue substantial counter-claims. 

The lawyer claimed that Alex has made multiple attempts to resolve the disputes. He added that Alex has invited the parties to cooperative independent audits but they have consistently refused. 

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In the end, the lawyer said that it would be inappropriate to comment any further on the matter as there is ongoing litigation. 

The representative of the alleged victims says that Alex Puthenpurackal has deliberately tried to avoid any mediation attempts. 

2.9Expert Score
Unreliable

Alex Puthenpurackal is facing a lawsuit for defrauding wholesalers $6.5 million. His victims have been forced to sell their homes and get their kids out of school.

Trust
2.8
Experience
3
Professionalism
3.4
Ethics
2.5
Pros
  • None
Cons
  • Fraud
  • Unreliable
  • Shady
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