Poor Norm Carey. Life hasn’t been too kind to the failed Perth property magnate after his Westpoint group went down the tube a year and a half ago and took 4000 investors and millions in life savings with it. It’s now been revealed Carey’s ex-wife, Diane, a government lawyer, allegedly had an affair with her family GP and sex therapist, Dr Stephen Adams.
A suppression order lifted this month in the WA Supreme Court revealed Carey, 51, is suing for more than $50 million after alleging the affair distracted him from his role as Westpoint boss, which resulted “in substantial diminution in the value of the Westpoint group”. The court knocked back the claim in 2005, but Carey is appealing the decision. He told The Australian he was pursuing the case because it was a “patient safety issue”. He is continuing to deny ASIC probes into alleged asset stripping of $11 million from his former companies.
It gives an entirely different meaning to the notion of holistic investment advice.
