Stockbrokers of the World Beware

I am not sure that there would be too much Arbitration and Mediation if this guy shows up at your office.

Melbourne underworld identity Mick Gatto has flown out of Australia on a mission to recoup ''millions'' lost by clients of failed stockbroker Opes Prime.

Speaking on 3AW this morning, Mr Gatto, whose private company Arbitrations & Mediations fixes ''sticky problems'' said he and two associates would go to Singapore and would be ''darting around all different countries'' in an attempt to recover the money.

''A couple of people have approached us and asked us whether we could assist them,'' Mr Gatto said.

I have recommended him to our Accounts Receivable Department for some of those tardy payers.

Gatto said the company provided a simple service where ''we go and see the client and we say... 'we really think that you should pay, and it's all done amicably and 9 times out of 10 it's settled and the client's happy and we're happy and of course the bloke who owes the money is happy to have that weight of his chest'.''

Better that than a bullet in the chest.

The meeting's location was changed twice yesterday by its nervous hosts. Mr Moghe, the sole shareholder and director of an Opes-linked company called Riqueza, had reportedly feared for his family over Mr Gatto's visit.

Mr Gatto said he was horrified that Mr Moghe would assume he might hurt his wife and children.

Mr Browne, who volunteered that he was extremely nervous about meeting Mr Gatto after looking him up on Wikipedia, said the collapse of the stockbroker had been "an unmitigated disaster" that ensured he and his colleagues would struggle to work in the field again.

Alls well that ends well.