A Gold Coast couple, David McWilliams and Laura Fullarton, appeared in the Federal Court in Brisbane on Monday amid allegations of defrauding nearly $90 million from investors who believed they were funding housing for people with special needs under the National Disability Insurance Scheme (NDIS). The Australian Securities & Investments Commission (ASIC) claims the couple misappropriated investor funds, spending large amounts on gambling, sports clubs, travel, luxury cars, cryptocurrency, a Fijian resort, and a country pub.

The companies operated by McWilliams and Fullarton have been wound up, with ASIC securing a court-appointed receiver to manage the remaining assets. Federal Court judge Patrick O’Sullivan is set to determine whether the couple’s alleged breaches of court freezing orders and contempt of court reach a criminal threshold.

During Monday’s proceedings, barrister Mark Steele KC, representing ASIC, outlined claims that McWilliams overspent his court-approved allowance by approximately $127,000 between September 2024 and February 2025, spending around $230,000 while only entitled to about $103,000. Steele also alleged that Fullarton exceeded her weekly allowance by around $60,000. These figures exclude funds allegedly missing from joint accounts, including $67,000 unaccounted for. Steele described the couple’s expenditures as substantial, with significant spending on gambling and travel.

In response, the couple’s barrister, Kingsley Scrimshaw, said Fullarton denied overspending her allowance and characterized McWilliams’ failure to disclose certain assets as an "innocent oversight." McWilliams admitted breaching the court’s freezing orders, including selling his share in a racehorse named Within The Law, but denied doing so in deliberate defiance of the court. He also denied intentionally disobeying orders when he directed Racing NSW to pay prize money from the horse directly to his son, contending that his ownership was exempt from the freezing orders following legal advice.

The court heard conflicting accounts regarding the disclosure of racehorse ownership. McWilliams claimed he believed certain assets were excluded from freezing orders after discussions with his solicitor, David Lalic. However, Lalic testified that McWilliams did not inform him of shares in two racehorses, describing it as unlikely he would have overlooked such a unique asset.

Outside the courtroom, reports indicated that McWilliams reacted aggressively toward media personnel, including kicking and shoving a photographer, while Fullarton reportedly hurled profanities at journalists.

The couple faces ongoing legal scrutiny as the court examines whether the breaches constitute criminal contempt and furthers investigations into the alleged misuse of investor funds intended for NDIS housing projects.