Mr Bensimon has already established some form in disappointing high-profile clients, when the supplier of a $50,000 diamond for a ring the jeweller provided to reality television star Sam Wood for his engagement to Snezana Markoski claimed in 2016 he was still owed for the two-carat sparkler.
On his website and social media accounts, Mr Bensimon lists The Hills star Whitney Port, former AFLW player Moana Hope and actress Pia Miller as among his clientele of jet-setters and sports stars.
Mr Bensimon ran three companies including Bensimon Pty Ltd, RR Fine Jewels and Bensimon Retail Group from Melbourne and leased retail premises in Melbourne’s Crown Casino. The companies were placed into voluntary administration in 2016 and liquidators were later appointed.
Minutes from the liquidators’ report conducted on July 1, 2016, found the proceeds of multiple cash sales deposited into his personal bank account, that stock items taken on consignment were pledged against loans from third party providers and other improper payments totalling $1.5 million.
Sources familiar with Mr Bensimon’s behaviour said the actions were comparable to the character played by Adam Sandler in the film Uncut Gems, in which a jeweller took out loans against stock received on consignment to fund his compulsive gambling habit.
Liquidators Rodgers Reidy found the three companies owed more than $6.9 million. In 2016, The Age reported Mr Bensimon incurred gambling losses of almost $2 million, purchased more than $640,000 in casino chips and wore trading losses of nearly $700,000.
Under Section 206F of the Corporations Act, a person may be disqualified for up to five years if they are found to be the officer of two or more companies that end up in the hands of liquidators and are unable to pay their debts.
In making the banning orders, the Australian Securities and Investments Commission found Mr Bensimon and his companies failed to pay debts including taxes, failed to lodge tax returns, failed to keep adequate records and failed to act in accordance with his director duties.