Wife of alleged cocaine dealer takes $350k hit on unit

 

THE socialite wife of alleged multimillion-dollar cocaine dealer Matthew Doyle has offloaded her luxury Cronulla apartment in a block built by her husband at a massive $350,000 loss.

Kelsea Doyle, the former PR supremo for ritzy fashion designers Camilla and Marc, sold her apartment with stunning ocean views in the boutique Tara Maree block last month for $1,900,000 after 278 days on the market.

Kelsea Doyle with husband Matthew Doyle.
Kelsea Doyle with husband Matthew Doyle.

The couple's glamorous lifestyle came crashing down when her property entrepreneur husband, 31, was arrested last week as part of an $80 million international drug sting involving more than 300kg of cocaine. It is alleged he was part of a three-person syndicate.

Proceedings have begun against him in the NSW Supreme Court by the NSW Crimes Commission under proceeds of crime laws.

In more bad news, the loss on Ms Doyle's investment unit has been revealed in property documents obtained by The Daily Telegraph

The luxury Cronulla apartment.
The luxury Cronulla apartment.

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Kelsea Doyle took a $350k hit.
Kelsea Doyle took a $350k hit.

Documents show she bought the top-end three-bedroom apartment off the plan for $2,250,000 in April 2017 under her maiden name of Kelsea-Amber Nagel, setting a standard for the block.

The development was built by Cronulla 88 Developments of which Matthew Doyle was a co-director until January this year.

The company was since gone into voluntary administration.

Ms Doyle settled the sale of the apartment at the end of last month for $1,900,000.

She had put it up for rent for $1300 a week after the building was completed in November but does not appear to have lived in it herself.

It demonstrates the perils of investing in the over-supplied luxury apartment market in Cronulla.

The couple have been movers and shakers on Sydney's social scene, frequenting Bondi Icebergs as she worked for trendy labels including Ksubi and Josh Goot.

Matthew Doyle was arrested last week as part of an $80 million international drug sting.
Matthew Doyle was arrested last week as part of an $80 million international drug sting.

Other documents show she officially changed her name to Kelsea-Amber Doyle before selling the apartment.

Police allege Matthew Doyle, of Burraneer in Sydney's south supplied 300kg of cocaine in Sydney between April 23 and September 4, according to court documents at Newtown Local Court.

He has been charged with supplying a commercial quantity of cocaine and two counts of knowingly dealing with cash that was the proceeds of crime.

Police also allege he dealt with $220,000 in criminally obtained cash between July 26 and 31 at Hammondville and then another $300,000 on September 4 at Cronulla.

Kelsea Doyle.
Kelsea Doyle.

Two other men, Jared Ramond Hart, 30, of Bronte, and Raoul Kesby, 28, from Woolloomooloo, were also charged following the operation by the NSW Police Organised Crime Squad..

Hart is charged with knowingly dealing with the proceeds of crime in relation to $219,500 in Hammondville on July 26 and supplying 50kg of cocaine at Kingsgrove on September 4.

Police also claim Hart had two police identification badges at his Bronte home and have charged him with two counts of possessing unlawfully obtained goods.

Kesby is charged with supplying a large commercial quantity of illegal drugs. All three men were remanded in custody bail refused.

There is no suggestion that Kelsea Doyle is involved in the drug dealing.