Former rich lister turned jailbird Craig Gore has pleaded guilty to a second set of charges relating to his fleecing of investors in a self-managed superannuation scheme to fund his personal spending habits.

Gore, a fallen property tycoon from the Gold Coast and one of Australia’s most colourful businessmen, was fined $2000 this week after pleading guilty in Brisbane Magistrates Court to operating a company while he was banned from doing so.

The thrice-bankrupt businessman was sentenced to five years’ imprisonment with a non-parole period of two years in November 2020 after being found guilty of six counts of fraud. He was also charged with three counts of operating a business while disqualified.

Gore’s fine for managing corporations came after he lost his application for special leave to appeal his convictions for fraud in the High Court in March this year.

Gore is the son of Mike Gore snr, who like his son was a key member of the “white shoe brigade” that dominated the Gold Coast’s heady development era of the 1980s and 1990s. Gore snr, who died some years ago, was one of the founding developers of the now established Sanctuary Cove gated community and suffered his own spectacular bankruptcy in the 1980s.

The charges of making decisions for a business while being disqualified relate in part to a superannuation scheme run by a Gold Coast super group and his family company MOGS Financial Services.

The scheme raised $4.75 million from Australian investors, scores in Melbourne and Sydney, to invest in US residential property.

In 2015, the Federal Court found in a civil case brought against Gore by the Australian Securities and Investments Commission that only $450,000 was ever spent on its intended purposes and the rest was used by Gore, his young Swedish wife and their associates to furnish their lavish lifestyles including luxury vehicles and corporate jets.

The Federal Court later banned Gore permanently from operating in financial services after finding the money had been misappropriated.