Final twist in buried treasure case: Tradies who dug up $500,000 worth of old cash buried on a construction site reach a secret settlement with developer who owns the land - but only one party has the last laugh
- Excavator operator Warren Bruggy and labourer Daniel Boyd dug up the cash
- Find made on a construction site at Runaway Bay, Gold Coast, last October
- The two honest tradesman immediately handed the money over to police
- Several other people later came forward to claim the fortune was theirs
- Three parties were locked in a bitter Supreme Court fight but settled on Monday
- They have come to a confidential agreement on how best to divide the cash
- Court heard land owner and developer had the biggest claim over the money
- The tradies were only on the property because they were contracted to work
A bitter legal dispute involving tradies who dug up almost $500,000 worth of cash buried on a construction site has finally drawn to a close.
Three parties who staked claim over the old bank notes, which were dug up on a property in Runaway Bay on the Gold Coast, have come to a confidential agreement about the best way to divide the money.
Excavation operator Warren Bruggy and his labourer Daniel Boyd hoped an archaic 'finders keepers' law would support their bid to keep $388,850 in old bank notes and a further $100,000 in destroyed notes they found while on the tools.
They were digging up land on the construction site owned by Morrison Construction Services last October when they found the loot.
The duo immediately turned the cash over to police - much to the dismay of their employer Shane Grimwood who reportedly sacked them on the spot when he learned of the money.
Queensland law states those who hand in property to police can request to have it returned to them if the owner can't be found.
A bitter legal fight erupted over almost $500,000 in old bank notes (some pictured) found by two tradies
Excavator operator Warren Bruggy (pictured) and labourer Daniel Boyd found the cash on a Gold Coast property they were demolishing on October 31
But Scott Morrison, who owns Morrison Construction, said the money rightfully belonged to him given it was found on land he owned and was in the process of developing.
The tradesmen's defense was that their contract was to demolish the property and take everything away, therefore the developer had 'disclaimed possession of those items removed during excavation'.
The third party walking away with a slice of the money is Raymond Ma, a restaurant owner who claimed his late father - who once lived on the property - buried the money to avoid paying tax on it.
After a drawn-out legal stoush which could've seen the money whittled away in legal fees, Brisbane Supreme Court heard on Wednesday that all parties settled privately.
The exact figure each person received will remain strictly confidential.
Justice David Boddice heard the dispute was resolved two days earlier on Monday August 23 and that each party had agreed to cover the cost of their own legal fees.
'The owner of the property has the best claim... as the owner of the land they have a better claim than the finder,' the court heard on Wednesday.
'Those who found it did so because they were granted entitlement to be on the property.'
Excavation operator Warren Bruggy and his labourer Daniel Boyd hoped an archaic finders keepers law would support their bid to keep $388,850 in old bank notes and a further $100,000 in destroyed notes they found while on the tools (construction site pictured)
Scott Morrison (pictured with his wife), the developer, filed a claim to keep the whole pile of cash for himself as he owned the land. He has since settled on a figure
David Topp (pictured), who represented Mr Morrison in court on Wednesday told Daily Mail Australia his client was 'happy the matter was finalised in court today'
David Topp, who represented Mr Morrison in court on Wednesday told Daily Mail Australia his client was 'happy the matter was finalised in court today'.
'The matter was mediated in strict confidence on Monday, and the applicant is happy with the outcome.'
Mr Topp said the parties would not be making further comments on the confidential settlement.
Similarly, Dr Anthony Marinac, who represented both tradesmen, said the pair were happy with the final settlement.
'The boys are very happy, as they have been, all the way along. They did the right thing and took the money to police,' Dr Marinac said.
'They are very happy with the outcome.'
Six parties in total were at one stage before the courts over the dispute.
Shane Grimwood, co-director of DIG Earthworks and the employer of both tradies who found the cash, initially staked a claim in the money too.
In an affidavit, developer Scott Morrison claimed Mr Grimwood called him saying he 'couldn't believe his guys had handed the money in'.
Mr Grimwood, a Harley Davidson enthusiast with a teenage daughter, allegedly tried to cut a deal with Mr Morrison that would cut out his now-former employees.
'I'm not greedy… so we should just split it 50/50 and we could both be on a yacht eating oysters and drinking champagne,' he said, according to Mr Morrison.
Shane Grimwood (pictured) the boss of the two tradesmen who found the cash, initially said he thought he should get a cut of the money but later withdrew his claim
The Reserve Bank confirmed the total value of the cash was around $476,600
Mr Topp said the parties would not be making further comments on the confidential settlement
Mr Grimwood eventually withdrew his claim for the sum of money.
Two other claimants dropped out of the race for the money, while a man whose father once owned the land insisted the cash should belong to him.
Police contacted former owners of the property, including Peter Chan, while trying to find the true owner of the money.
Mr Chan said his late brother-in-law Stephen Ma, a travelling chef, may have hidden the money on his property to avoid paying tax.
Mr Ma's son Raymond Ma, who owns Mandarin Court Chinese restaurant on the Gold Coast, has since launched a claim on behalf of his father.
His lawyer told the court his client believed Mr Ma buried the cash in 1993 after showing Mr Chan a bag full of money, which he refused to take.
However, he admitted he never actually saw Mr Ma bury the cash.
The Ma claim was bolstered by the cash being found wrapped in Chinese newspapers Raymond Ma claimed his father often read.
Restaurant owner Raymond Ma (left) tried to claim the cash on behalf of his deceased father Stephen (right), who he claims buried the money to avoid paying tax
The two tradies were demolishing a property (pictured) on the Gold Coast, when they lifted the old notes out of the ground
However, Mr Morrison countered that the money couldn't be Stephen Ma's as he 'lacked the capacity and ability to have earned an amount of money as large'.
Mr Morrison's lawyer argued even if the story was true, Stephen Ma had 'abandoned' the money and therefore had no claim to it.
Regardless, Mr Ma was involved in the settlement and reportedly did not walk away empty-handed.
Legal experts previously warned the court battle could have been a costly misadventure as the judge could have decided no one was entitled to the money.
Inheritance lawyer Christine Smyth previously told Nine News in that case the Queensland Government or the Federal Government would have gotten to keep it.
The ATO could also have taken a large piece if the story about Stephen Ma burying the cash to avoid paying tax turned out to be true.
'If it's found this money was earned through income one of the questions that might be asked is well, was there tax paid on that?' Ms Smyth said.
Police never recovered any fingerprints to link the cash to any individual.
Mr Morrison (pictured with his wife) reached a confidential settlement with two other parties
Comments 0
Share what you think
No comments have so far been submitted. Why not be the first to send us your thoughts, or debate this issue live on our message boards.
