Agency boss targeted by site hacker closes third agency leaving more firms chasing debts
The boss of a digital agency whose two previous businesses went into voluntary liquidation owing more than $1m, has closed down the latest version of his company with a fresh set of creditors now knocking on his door.
Jamie Silver, the founder and managing director of Melbourne-based Dcodr Agency, shut down the business on February 12 saying it was “time to move on and embrace new opportunities”.
Silver and Dcodr hit the headlines last year after a developer took over the website of its client, Goswitch, accusing him of failing to pay an outstanding invoice.
It’s unfortunate that the media have to be involved before any of the government organisations charged with stopping this sort of deception will act. If they were doing their job, he never would have been able to do this 3 times in the space of a few years.
My thoughts go out to all the staff that are unpaid, unable to meet their financial obligations, and at no fault of their own.
Third time a charm? [Edited under Mumbrella’s moderation policy]
It gets worse: not only are his employees not going to get paid, now when they apply for a new job they will be affiliated with DCODR and Jamie Silver. Potential future employers will see these multiple news articles about DCODR [edited under Mumbrella’s comment moderation policy] and will be hesitant to employ them.
Silver should be made accountable and made to pay up!
Note to industry: Don’t f#% with the web developers!!
As one of the parties that have fallen fowl of Jamie Silver’s operational practices, I’m sure the list of affected parties is long and varied and I only hope that this list now ceases to grow.
“time to move on and embrace new opportunities”
Look out, future creditors!
Sounds like this Jamie Silver isn’t fit to be a director if the last 3x incorporated businesses he’s directed have gone into liquidation.
ASIC should really be looking into this and making an example of him.
We are one of the victims as mentioned in the article. All I can say is “All the best for your money” as I don’t see ours coming back…… People like him should not be allowed to operate any business and even work fulltime for any other business….Best way to teach a lesson!
We’ve lost countless clients to this dog, he undercuts on price because he knows he isn’t going to pay the media companies, designers or developers.
Fortunately for us he usually screws the client too and we get them back. [Edited under Mumbrella’s moderation policies]. Where is ASIC in all this?
Where’s ASIC is the big question. They are in the news for not dealing with the top end of town, well how about the bottom end. What on earth are they doing?
The reason we have regulation in the first place is to create an even playing field… but it’s not even if not all companies play by the rules.
Mumbrella – I’m calling you to write an article questioning where ASIC has been in all of this. Make them accountable for their lack of action.
Normally I don’t take pleasure in celebrating the misery of others but in light of the discomfort this article will surely bring to Jamie Silver and the feeling of catharsis it will bring to others, I’ll happily make an exception. French Champagne anyone?
I hear Gatto Corporate Solutions are good at debt recovery.
Sounds like Long John Jamie Silver to me. Yaaar.
A massive indictment on ASIC. If ASIC have indeed been tipped off about this activity then why are they sitting on their hands!
I am on for it! Love Champagne!
No doubt the next article needs to question ASIC. If Mumbrella found all of this information, and for sure their lawyers vetted it, then ASIC have much more reach into their investigations.
It would be nice to see small business put on notice that this sort of thing is not acceptable.
ASIC never seems to investigate these activities. One company owed us north of $50k and entered into admin. The director’s own appointed administrator told us they had reported him to ASIC twice prior for re-phoenixing actions , yet here he was doing a third time! I just wonder how many “entrepreneurs” like this guy actually sink other budding entrepreneurs who are trying to do this right thing. One thing I know – [Edited under Mumbrella’s moderation policy]. Its how we roll in this country – ASIC is toothless unless the case is high profile, and people are finding out the hard way.
What a plonker.
After reading more comments, I also second the call for more articles on the current limitations of ASIC. I am aware that they have limited resources and budgets, especially when large, complex, high dollar cases that affect a lot of people (eg Opes Prime) are going on, but how can there be some focus on small businesses and entrepreneurs who patently do the wrong thing on a regular basis? I read with irony when some famous entrepreneur proudly tells of failing many times before they make their millions… I feel for those they have destroyed along the way during their failures. The onus is then on the creditor to start legal action and prove trading insolvently in order to finally bring the directors to justice – its outrageously expensive path to commit to and beyond the means of other small businesses. Here is a very valuable hint – make sure you have a signed PERSONAL guarantee from the director of you are offering any business terms to a small or even medium business. Nothing else is worth the paper its written on if things go sour.
This is damning on ASIC – they exist as the corporate watchdog but hearing stories like this makes you wonder if they are actually doing anything. The ASIC website lists the effect of illegal phoenix activity as “$3billion annually” including over $600million in unpaid taxes and government revenue. Surely there is enough incentive to prosecute these cases – at the moment it would seem that phoenixing companies is a surefire way to make a few dollars without having to worry about any recourse whatsoever.
What a %^$$#& plonker
ASIC should go after these oxygen wasters big time.
Glad I checked back on this discussion. From first hand experience, I couldn’t agree more. Also make sure you have that agreement vetted by your lawyers so it’s bullet proof. Create one and that’s all you need.
So, mumbrella – How about an article on the limited powers / actions of ASIC?
https://www.linkedin.com/in/jamie-silver-227a33?
What ‘Amazed’ and others are saying above