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Lawyers for Pendlebury allege that over that time, Strategic transferred money from his accounts to Sourasis’ projects more than 50 times.
“In around February 2025, Mr Pendlebury became aware that, between January 2015 and December 2023, Mr Sourasis had transferred funds totalling $2,148,900.00 from S Pendlebury Investment Co’s Macquarie bank account (Macquarie funds) to an account or accounts associated with Mr Sourasis,” the court documents claim.
The largest transfer was a $305,000 payment “To Strategic Financial” while $488,000 was transferred under the description of Seaford Beach between 2015 and 2016, which is believed to be tied to an acquisition of a beachside development site close to a swamp.
Some of the money was sent to entities tied to Sourasis’ Western Melbourne Group – a company proposing a public private partnership to develop a sprawling sporting, entertainment and health complex on Melbourne’s western fringe.
The development would also include a new stadium for the financially struggling Western United team.
From 2020, the documents say, dozens of transactions from Pendelbury’s account were made to a trust known as Sayers Road Investment Co, while from 2023 payments were recorded as being Pendlebury’s investment in the Western Melbourne Group.
Lawyers for Pendlebury allege that the payments were made without his permission.
“Each of the transfers of the Macquarie Funds was made without the knowledge or consent of Mr Pendlebury or S Pendlebury Investment Co.”
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It adds that the transfer of the funds was not authorised under the retainer between Pendlebury and the financial planning group.
“In the circumstances, and in breach of the fiduciary duties, each of Mr Sourasis and Strategic Financial Planning misappropriated the Macquarie Funds.”
Pendlebury’s lawyers argue that Sourasis and Strategic Financial Planning have breached their responsibilities because the transfers were not disclosed, not made in good faith and gave rise to a conflict of interest because they were made to entities linked to Sourasis.
Sourasis has faced a range of financial headaches this year, among them claims from the tax office over unpaid business debts including for the soccer club.
Western United, which is to be the anchor tenant at the proposed stadium in Tarneit, has so far avoided being formally placed into liquidation after racking up nearly $8 million in debt to the tax office.
The club, where Sourasis is executive chairman, has been placed into “hibernation” and will not compete in the A-League this year as it fights to stay afloat.
Last month it won a stay on orders from the Federal Court appointing liquidators, to allow it to have further mediation talks with the ATO.
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The club has also recently won back its licence after it appealed Football Australia’s decision to strip it of its playing rights.
The court documents also say that on March 15, 2023, Pendlebury agreed to loan $300,000 to Sourasis, but demanded it be repaid a day later.
A week later, the pair had negotiated a new agreement where the loan was to be repaid in six to 12 months at an interest rate of 50 per cent a year.
Pendlebury says the money has not been repaid, despite requests to do so, and that Sourasis owes him the $300,000 plus interest.
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