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As Bre-X began to implode, Mr. Walsh seemed as stunned as any of the investors who had seen their Bre-X stock suddenly become worthless.
Later investigations found that Bre-X's core samples had been ''salted,'' a process in which gold dust is sprinkled into drilled sections of earth to falsely indicate rich deposits.
Investors in the United States and Canada filed class action suits against Mr. Walsh and other company officials. Bre-X itself declared bankruptcy last November, and Mr.
Walsh resigned as chairman soon after. He and his wife, Jeannette, who had helped him start Bre-X in the basement of their Calgary home in late , had sold significant amounts of Bre-X stock at high prices months before the company collapsed.
Walsh always maintained that he had no prior knowledge of the fraud. Lenczner, Mr. Walsh's lawyer in Toronto. Walsh was born in the English-speaking section of Montreal in Justin Olam net worth.
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In the Australia Day Honours , Walsh was made an Officer of the Order of Australia AO for 'distinguished service to the visual arts through the establishment of MONA, and as a supporter of cultural, charitable, sporting and education groups.
From Wikipedia, the free encyclopedia. David Dominic Walsh. Melbourne: The Age. Archived from the original on 26 January Retrieved 22 January The Weekend Australian Magazine.
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