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Speedo king dies in Poland after fleeing Australia

Jo HarperAugust 8, 2016

An 87-year-old Australian businessman, "Abe" Goldberg, has died in Poland 25 years after his empire collapsed, leaving debts of $1.3 billion. The Australian Tax Office, shareholders and lenders will not get a cent.

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Schwimmer Michael Phelps
Image: Getty Images/Allsport/T. Duffy

In the late 1980s Goldberg ranked as Australia's fourth wealthiest person with an estimated fortune of $600 million.

His firm, Linter Group, was reputed to be the world's biggest textile manufacturer, holding Australian brands including Speedo, Stubbies, Pelaco and King Gee. The business collapsed in 1990, when the group was placed in liquidation, though millions of dollars had already been siphoned off to offshore havens and trust accounts.

Goldberg returned to Poland - where he was born in 1929 before his family emigrated to Australia in 1948 - after escaping from a Nazi ghetto during the war.

Goldberg followed other Australian billionaires Alan Bond and Christopher Skase by fleeing to Europe and refusing to cooperate with the Australian Securities and Investments Commission. Australian corporate investigators have issued more than 10 arrest warrants for Goldberg.

Goldberg - reportedly known as the "square dancer" for his habit of rapidly changing business partners - reportedly left an inheritance of about 500 million euros after he amassed a property portfolio in Warsaw, "The Sydney Morning Herald" newspaper reported. Through his Oxford Polska group he controlled 22 companies that own as many as 12 Warsaw buildings worth perhaps $1 billion.

Goldberg made significant financial contributions to several Jewish organizations based in Poland.

Goldberg lived in a sprawling faux-Tudor mansion on Toorak's Orrong Road.

A journalist from "The Bulletin" magazine tracked Goldberg down in 2005, living in a luxury apartment in a suburb of Warsaw. Asked if he intended to return to Australia, he reportedly said: "When I'm ready I will come."