One Nation paid $500,000 to company behind billion-dollar development in Queensland

Pauline Hanson’s One Nation made a mystery $500,000 payment to troubled investment company Mayfair Platinum, responsible for a now-stalled billion-dollar redevelopment of Mission Beach in Queensland.

The “party payment” was made in the first six months of 2020 and disclosed to the Electoral Commission of Queensland by Hanson on behalf of the Queensland division of her party.

One Nation has angrily rejected claims the party could be left out of pocket due to a series of liquidations within the corporate group – but refused to explain the purpose of the $500,000 payment and whether any of the money has been repaid.

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Mayfair Platinum is part of the troubled Mayfair 101 group, which suspended investors’ rights to redeem some investments in March and is being sued by the Australian Securities and Investment Commission.

Asic has accused director James Mawhinney of misleading investors in Mayfair 101, which has raised at least $140m from the public, by claiming some of its offerings were similar in safety to a bank term deposit.

Mawhinney has also been accused in court of transferring potentially valuable assets away from the grip of investors and to a company in the British Virgin Islands, 101 Investments, of which he is the ultimate owner.

Mawhinney has always denied doing anything wrong and has accused Asic of “massive overreach” in its actions.

The Mayfair Platinum brand was used to promote a billion-dollar redevelopment of Queensland’s Mission Beach and Dunk Island, with investors purchasing bonds to invest in property the company had the right to buy at Mission Beach.

Mayfair 101 has angered some locals by putting off or cancelling settlement of purchase of 200 properties as part of the development.

In August, rich-lister Peter Bond repossessed the Dunk Island resort at the centre of the scheme after Mayfair failed to meet payment terms.

The Mayfair Platinum brand was phased out in June as part of a trademark dispute settlement with Platinum Asset Management.

Parts of the group are in the hands of provision liquidators including M101 Nominees, a fundraising vehicle for investments called M Core notes, and 16 companies associated with another Mayfair investment product, the IPO Wealth Fund.

Guardian Australia contacted Hanson to ask about the $500,000 payment and whether the Pauline Hanson’s One Nation Queensland division could be left out of pocket.

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Hanson’s chief of staff, James Ashby, replied that the claims were “completely untrue”, adding that “gutter trash theories” were a “waste of [his] time”.

Ashby declined to answer follow-up questions to explain the purpose of the $500,000 payment his own party leader declared and whether the money had been paid back.

Guardian Australia contacted Mayfair 101 for comment.

In September, Mahwinney told the Australian he was “devastated” the IPO Wealth Fund had been wound up. Mahwinney reportedly said that “any claims” of impropriety were “categorically rejected”.

“I have personally engaged with almost every single unit holder and have eternal empathy for the situation they now find themselves in.”