Fadi Ibrahim, a central member of the Kings Cross nightclub family, has avoided prison for an act of “familial generosity” after his underworld brother, Michael, repaid a loan with $600,000 sourced from a black market tobacco deal.
Fadi pleaded guilty only to handling money reasonably suspected to be the proceeds of crime after Michael repaid $600,000 of an $800,000 loan. “This offender was not in any way part of criminal syndicate nor was he aware of the serious criminal activity which Michael was involved.”Fadi did not make any money from the loan to his brother – rather he lost $200,000.
“The simple and clear inference to be drawn from the facts is that , for reasons of familial generosity, advanced money to his younger brother ,” he said.