Geelong Cats donors fail to repay charity after allegedly stealing $14 million
Sy Giang Nguyen and Keith Greenwood agreed to repay $5.4 million to a charity that accused them of stealing up to $14.5 million. Now the not-for-profit is launching further court action to enforce the settlement.
Two former sponsors of the Geelong Football Club have failed to comply with a court settlement to pay $5.4 million to a major Geelong charity that accused the pair in court documents of defrauding up to $14.5 million.
Former genU information technology manager Sy Giang Nguyen and late Geelong businessman Keith Greenwood agreed in June to make three separate payments to the not-for-profit organisation to resolve the civil case in the Supreme Court of Victoria.
Former Geelong Cats sponsor Sy Giang Nguyen.Credit: Marija Ercegovac
However, after making an initial payment of $1.4 million, the pair failed to pay the second tranche of $3 million on September 26, just four days before Greenwood died.
A subsequent payment of $1 million was made by Nguyen and the Greenwood estate, but the charity is still owed $3 million.
Lawyers acting for genU applied to enforce the settlement at a court hearing on December 18 and said they would seek to appoint a receiver next year to pursue assets from Greenwood’s estate to cover the remaining debt.
Nguyen continues to live in a luxury home in the Geelong suburb of Newtown, which he rented off Greenwood before his death and is part of the estate.
Former Geelong Cats sponsor Sy Giang Nguyen.Credit: Monique Westermann
Nguyen allegedly colluded with the late Greenwood to siphon millions of dollars from the registered charity by buying or leasing thousands of IT products on behalf of genU that were never delivered, according to documents filed in the Supreme Court of Victoria.
Greenwood’s former business, Ryrie Office Machines, was also accused of oversupplying and overcharging for IT hardware and software ordered by Nguyen, who had worked for genU since it was founded in 2016.
The pair were long-term sponsors of the Cats, regularly appearing in photos with players, coaches, or in the locker room.
When Nguyen was arrested and interviewed by detectives from the financial crime squad in August 2024 over the alleged fraud of genU, his commitment to the Cats did not falter. Two days after his interaction with police, Nguyen greeted Geelong captain Patrick Dangerfield and tossed the coin before a match at GMHBA Stadium.
