Arabic version: مالكو «توبليس» يخشون محدودية عواقب تحقيق هيئة مكافحة الفساد

According to ABC News, apartment owners affected by the collapse of Jean Nassif’s Toplace property empire fear the NSW Independent Commission Against Corruption inquiry may deliver limited consequences, despite evidence about defects and political dealings.

Michael Jones bought a two-bedroom apartment at Toplace’s Vicinity complex in Sydney in 2017, when his wife was pregnant with their first child. Nine years later, the family has three children and has outgrown the apartment, but major structural defects have left them financially trapped. Temporary steel props have supported parts of the building since 2022 after engineers raised concerns about key structural beams.

Owners face repair estimates in the millions, including one structural issue estimated at $11 million. Mr Jones estimates he has paid an additional $150,000 in strata costs and repairs since 2017. He said apartments that once sold for up to $800,000 could now be worth between $250,000 and $380,000, leaving many owners struggling to refinance or sell without major losses.

Mr Nassif appeared twice by video link from Beirut during the inquiry, where he denied corruption and rejected claims he was hiding from Australian authorities. The 58-year-old, wanted by NSW Police on fraud charges, blamed former Liberal minister David Elliott and former state building commissioner David Chandler for Toplace’s demise. Neither Mr Elliott nor Mr Chandler is accused of wrongdoing.

Owners Corporation Network head Karen Stiles said serious defects had affected owners physically, financially and emotionally, while former ICAC assistant commissioner Anthony Whealy KC said the inquiry had cast an “unedifying light” on dealings involving the Liberal Party, lobbyists and developers. Mr Jones said he hoped the inquiry would bring accountability, but feared it could become “a toothless beast” rather than prompt real change.