A Lamborghini-driving, globetrotting playboy construction company has gone bankrupt months after being deregistered.
FTD Construction, which also stands for Fulfill The Dream, was declared bankrupt on Monday.
Perth-based sole director and CEO Ricky Hirsch, 37, likes to post images on social media of himself either abroad at luxury resorts or sitting in one of his Lamborghinis.
GTS Advisory Director Mathieu Tribut has been appointed liquidator.
FTD Construction touts its tycoon founder, Mr. Hirsch, as a financial genius who started a company at age 24 when others were still panicking about the global financial crisis.
Mr Hirsch boasts of how he has ‘expanded his business from Australia to Dubai, Singapore, China and Indonesia’ and has set his sights on New York and Miami.
Fulfill The Dream’s assets are being sold four months after the Building Services Board of Western Australia refused to renew its registration, citing financial management issues.
The construction company of a Lamborghini-driving playboy has gone bankrupt months after he was deregistered (he is pictured on the right with his wife Lilya)
“The Council was not satisfied that the company met the financial requirements for registration or that it had arrangements in place to ensure competent management and supervision of the construction work carried out by the company,” the council said.
The Construction Council advised affected customers to apply for home damage insurance.
FTD Construction still has a website with the slogan: ‘Partner with FTD and share in developers’ profits.’
The website touts $448 million in “pipeline projects” for 2023 and 2024 and more than 50 joint ventures.
Mr. Hirsch, who founded the company at the age of 24, has been touted as having an entrepreneurial spirit from an early age.
“Seemingly born with a profound drive for success and a healthy business spirit, Ricky Hirsch has been following his inner entrepreneurial spirit since he was just 17 years old,” according to his company website.
‘At the age of 17, Hirsch discovered an untapped niche in the market, using unique techniques that increased his investment incredibly tenfold.’
He also boasted on his website about how he had weathered the real estate market panic during the global financial crisis.
“In 2008, when most people were still recovering from the Global Financial Crisis (GFC), Hirsch went against the grain,” according to his website.
‘He took advantage of a new model that would later reshape the strategy of local developers in his city.
“He introduced unique triplex development models, allowing him to make twice the profit while utilizing only a quarter of the working capital – this was a game-changer.”
FTD Construction cites an interview he gave to US magazine Forbes New York in August 2023, just weeks before the Western Australian government refused to renew his construction registration.
‘I saw an opportunity and had a vision. “I took over the property with a plan to change the game in the group home,” he said.
Perth-based sole director and CEO Ricky Hirsch is fond of posting images on social media of himself jet-setting abroad or revving a Lamborghini (he’s pictured with a Lamborghini Aventador)
Mr Hirsch boasts of how he has ‘expanded his business from Australia to Dubai, Singapore, China and Indonesia’ and has set his sights on New York and Miami (he is pictured at a luxury resort in Bali)
Mr Hirsch has a penchant for posting his riches on social media, with a video showing off a black 2013 Lamborghini Gallardo on his Facebook page.
His social media page also shows him sitting in a Lamborghini Aventador with a winged door open.
New models of this car sell for over $800,000.
Just four days ago, America’s Rubicon PR Group posted a Facebook ad touting FTD Construction as the future of modular construction, highlighting a sponsored op-ed he had written for the Inc Australia website just two weeks ago.
“Fulfil the Dream is a pioneering modular construction company, committed to redefining urban development through innovative and sustainable construction practices,” the report said.
“Under Hirsch’s leadership, Fulfill The Dream is not only implementing modular construction in response to today’s challenges, but also seeing it as the future of urban development.
The company’s assets are being sold four months after the Building Services Board of Western Australia refused to renew its registration, citing financial management issues
“The company sees modular construction as a versatile solution that can adapt to different architectural styles and community needs, offering a more sustainable and efficient approach to urban growth.”
The Australian Securities and Investments Commission announced on Monday that an annual general meeting had decided to dissolve the company and appoint a liquidator.
Daily Mail Australia has contacted FTD Construction and GTS Advisory for comment.