Jewellery Industry Network: Unravelling a web of collapsing companies

Among the three collapsed companies was a charity that purported to help financially disadvantaged children.

A review of the charity's financial statements reveals that 89 per cent of all donations were spent on staff. Furthermore, a staggering 99 per cent of revenue was spent on administration costs.

Since this report, four more companies connected to one of the founding directors of the Jewellery Industry Network, Angkham (Andy) Phanthapangna, have been identified as having been liquidated since 2024.

This brings the total number of collapsed companies associated with Phanthapangna to seven. In each case, the same insolvency firm, Bernardi Martin, has been appointed as administrator and/or liquidator.

Further research has also identified an eighth company, also liquidated by Bernardi Martin, which has some unusual connections with the other companies and the local jewellery industry.

As previously documented, the Jewellery Industry Network was established in 2020 by Laura Moore, a former vice-president of the Jewellers Association of Australia (JAA), along with Phanthapangna and two other directors. She had to resign from the JAA board in 2016.

Brett Low and Ewen Ryley, two jewellers based in Queensland, were also founding directors and shareholders of the Jewellery Industry Network. Both are well-known in the industry for establishing the popular Young Jewellers Group on Facebook in 2011, which has been known as Jewellers Co. since 2019.

As previously reported, Phanthapangna quit the Jewellery Industry Network in December 2024. This followed the resignations of Low and Ryley in May 2023, leaving Moore as the sole director of the company responsible for the Jewellery Industry Fairs.

Phanthapangna’s personal details were removed from the Jewellery Industry Network website sometime around January this year. Low and Ryley, who were previously listed as ‘founders’ of the Jewellery Industry Network, were also removed.

The reasons for Phanthapangna’s departure remain unknown; however, it has been established that three of his companies had collapsed around this time.

At the time of the initial article, Achievement Collective and Banquet Creative were the two companies placed into liquidation. Since then, the administrator for a third company, the registered children's charity known as Grow Fit Fund, has confirmed that the company will now be liquidated following a second creditors meeting.

Remarkably, Jeweller has since learned of five additional companies that have been placed into liquidation, each with varying degrees of connections to the Jewellery Industry Network, Jewellery Industry Fair and/or Jewellery World.

Jeweller does not suggest that any of the individuals referenced in this story have acted unlawfully.

Angkham Phanthapangna attends his Jewellery Industry Fair. ASIC records show that in addition to being director and shareholder of Jewellery Industry Network, at least seven companies for which he was a director have been liquidated, while the company that owned Jewellery World was issued with a wind up notice by the Australian Taxation Office.

End of the line for a children’s charity

Grow Fit Fund [ACN: 647 780 372] is a registered charity with several peculiar connections to the jewellery industry. The company’s website claims to support young and vulnerable children.

The company was registered with the Australian Charities and Not-for-profits Commission (ACNC), with records indicating it was established on 8 February 2021. The following day, 9 February 2021, Grow Fit Fund was registered with the Australian Securities and Investments Commission (ASIC) and had two directors: Angkham (Andy) Phanthapangna and Glenn Murray Fuller.

At the time, the company had two shareholders, Alphabet Technologies and Something New, companies owned by Phanthapangna and Fuller, respectively. As listed on its website and in ASIC records, the Grow Fit Fund's registered place of business is 43 Port Road, Thebarton, in South Australia. Both Alphabet Technologies and Something New are also registered to the 43 Port Road address.

Grow Fit Fund was placed under external administration on 25 September 2025. Coincidentally, this was the opening day of the recently held Jewellery Industry Fair in Sydney, which took place from 25-27 September and was organised by the Jewellery Industry Network.

As a charity, Grow Fit Fund made various claims on its website, including having the aim to "support young people who are financially disadvantaged to participate in sporting and arts activities, which they would not usually be able to afford”.

The collapsed children's charity is one of seven liquidated companies connected to Andy Phanthapangna who was a director, shareholder and board member. Glenn Fuller, Nunzio Giurastante and Laura Moore were also board members. Another liquidated company, also owned by Phanthapangna - Banquet Creative - features on the Grow Fit Fund website.

The Grow Fit Fund website has changed several times. That said, it previously displayed a four-person board, and, in addition to Phanthapangna and Fuller, there were/are two other members: Nunzio Giurastante and Laura Moore, another founding member of Jewellery Industry Network.

Grow Fit Fund had an active account on the social media platform Instagram for less than two years. The first post on the charity’s account was on 16 June 2022 and the account abruptly stopped posting on 8 February 2024.

During this time, the Instagram account identified Phanthapangna as the chairman of the children’s charity, and Fuller was recognised as the president.

The ACNC website indicates that the charity has failed to lodge its financial statements for the year ending 30 June 2024, which were due in January this year. These statements were nine months overdue at the time of the company’s collapse.

According to the ACNC Act, all registered charities are liable to pay an administrative penalty if they fail to provide a report, return, notice, statement or other document in the approved form by the due date.

With that said, the financial statements for Grow Fit Fund for the year ending 30 June 2023 make for interesting reading.

These documents reveal that the charity received $228,037 in donations for that financial year; however, 99.9 per cent of all income was spent on administration expenses, leaving a profit of only $289 (.01 per cent).

More interesting is the fact that $203,010 (89 per cent) of income was paid in wages and superannuation, while a further $10,078 (4.42 per cent) was attributed to advertising and promotional expenses.

An additional $11,712 was spent on administration costs, comprising $2,330 for insurance, $4,840 for accounting, $3,045 for WorkCover insurance, and $1,497 for printing. 

Given that 99.9 per cent of Grow Fit Fund's income was spent in FY23, it is possible that the charity performed differently in FY24; however, as mentioned, no financial statements have been filed with the ACNC, despite being due nine months ago. More importantly, the company will now be liquidated.

Unsigned director declaration

Glenn Fuller was a director and shareholder of Grow Fit Fund alongside Phanthapangna. It has since been learned that Fuller has had several prior dealings with insolvency firm Bernardi Martin.

As an aside, it’s interesting to note that the FY23 financial statements published on the ACNC website, including the ‘director declaration,’ are unsigned by the two directors: Angkham Phanthapangna and Glenn Fuller.

This unsigned financial report contains a clause that states: "Director Benefits - No director has received or has become entitled to receive, during or since the financial year, a benefit because of a contract made by the company or related body corporate with a director, a firm which a director is a member or an entity in which a director has a substantial financial interest."

It’s worth noting that Fuller ceased being a director of Grow Fit Fund on 9 September 2024. With that said, the FY23 financial statements correspond to his time as a director, president, managing director and shareholder.

As previously reported, Jeweller's attempts to contact Phanthapangna have been unsuccessful. This includes an unsuccessful attempt via the Grow Fit Fund email address listed on the ACNC website. Despite the charity’s website remaining active, the email address appears to have been deactivated.

Various attempts to contact Fuller have also been unsuccessful.

Andy Phanthapangna’s charity - Grow Fit Fund - has failed to lodge FY24 financial statements with the ACNC and its FY23 reports show that 99.9% of all income received from donations went to administration costs, including more $200,000 in ”staff’ wages.

Hugh Martin from the specialist insolvency firm Bernardi Martin was contacted by Jeweller, seeking information about the $203,000 paid in wages and superannuation during FY23. He replied on 20 October and confirmed that the company would be liquidated.

Martin also indicated that the company had five employees, and that Phanthapangna was not among them; however, he was unable to confirm whether any of the five employees had a familial relationship with the director or if board members were paid.

Additionally, he was asked if any of the charity’s staff were employees at other companies owned by Phanthapangna and/or Fuller. That question was not answered.

As a Grow Fit Fund board member, Moore has previously taken to social media to detail the work the charity has undertaken.

"Part of the mission of Grow Fit Fund is to support kids get into activities that they otherwise may not have, due to a lack of resources,” writes Moore.

“As a board member, I am very proud to help shape the direction of this amazing organisation which strives to assist kids all over Australia."

The Institute of Community Directors Australia (ICDA) provides a description of the standards for governance excellence for not-for-profit organisations and charities, as well as ‘social enterprises’.

The ICDA website explains the fiduciary duties of board members: "The number one duty of any board member is to act in the interests of the organisation he/she is overseeing. This means that you must not allow your personal interests, or those of anyone else, to override the interests of your organisation - even if you've joined the board as the representative of another group, or another organisation, or another board."

Jeweller also attempted to contact Moore to clarify various matters about the charity's financial management and whether she and/or other board members benefited financially from the $203,000 paid to ‘staff’. She did not reply.

Laura Moore’s LinkedIn post not only details her connection to the charity, it also demonstrates the many ways in which her and Phanthapangna's business interests have been intertwined not only with each other, but also with the broader Australian jewellery industry.

Her social media post goes a long way to demonstrating the many ways in which the business interests of Moore and Phanthapangna have been intertwined not only with each other, but also with the broader Australian jewellery industry.

Not only does the post detail Moore’s connection as a board member of Phanthapangna's collapsed charity, but it also includes mention of her many businesses, which are connected to the jewellery industry.

The social media post includes her roles as managing director of the Jewellery Industry Network, owner of Jewellery World magazine, owner of The Centre Sydney, managing director of IGN Media, and owner of Moore Events Australia.

ASIC records show that, at the time, Jewellery World's registered place of business was also the same address of the collapsed children's charity - 43 Port Road, Thebarton in Adelaide.

This is important because, as will be noted, the magazine has been used to promote businesses for which Phanthapangna and Fuller were involved and/or owned and which were all registered to the same address as Jewellery World.

Show me the money!

Jeweller has obtained the Grow Fit Fund administrators’ report, which includes a list of creditors that are owed a total of $114,371 as at 26 September 2025. This figure equates to 50 per cent of the total donation income the charity received in FY23.

The report reveals that the Australian Taxation Office (ATO) is owed $35,015, and that staff are owed $27,995 in wages and superannuation. More interestingly, the creditor listing features a number of entities that are owned or connected to Phanthapangna.

Among them are Banquet Creative ($34,337) and QED Technologies ($9,119). The report records the registered address of both businesses as 5 Hackney Road, Hackney, in Adelaide.

A business named AG Marketing is owed $3,343, and the contact for this business is listed as Hugh Martin of Bernardi Martin, the same insolvency firm appointed to liquidate Grow Fit Fund. See below. 

An entity named Safety Barn is listed as being owed $2,000 and ASIC records reveal that this business is part of The Trustee for AG Marketing Group Unit Trust.

Furthermore, it remains unknown whether some individuals who were paid by the children's charity as staff have, or had, simultaneous connections to other private companies associated with the directors.

At the time of publication, it was unclear whether the relevant government regulators were investigating the collapse of Grow Fit Fund and its failure to comply with ACNC reporting requirements.

Connections & Associations

As documented in the administrator’s report, the Grow Fit Fund creditor listing is merely one example of how a network of seemingly unrelated businesses, ranging from charities to sports clothing businesses to NDIS providers, have been connected to the local jewellery industry.

Recurring details behind a series of liquidated entities with overlapping addresses, shared ownership structures, and financial ties paint an intriguing picture.

As readers will learn, these links converge through insolvencies, unusual partnerships, and the local jewellery trade. What emerges is a pattern that warrants closer scrutiny and raises serious questions.

» Banquet Creative
» ACN: 644 421 250
» Status: Liquidated

The Grow Fit Fund website states that the charity is “served by Banquet Creative.” The company promoted itself as an advertising agency specialising in branding, design, strategy and communications.

ASIC records reveal that Phanthapangna is the director and secretary of Banquet Creative. Another company, known as Alphabet Technologies, is listed as the 100 per cent shareholder. This company is owned by Phanthapangna.

Banquet Creative was placed in the hands of the same insolvency firm as Grow Fit Fund, Bernardi Martin, on 7 July 2025. It was subsequently liquidated on 14 July 2025.

This company has associations with the jewellery industry beyond the overlapping ownership with Grow Fit Fund. Indeed, for Banquet Creative, connections with the Jewellery Industry Network, Jewellery Industry Fair, and Jewellery World are extensive, as will be demonstrated in a subsequent report.

As an example, Banquet Creative has exhibited and delivered seminars at the Jewellery Industry Fair, which is organised by the Jewellery Industry Network. All three companies were, until recently, owned by Phanthapangna.

These issues aside, the administrator’s report indicates extensive financial transactions between Banquet Creative and Grow Fit Fund. When the latter was placed under administration, Banquet Creative was listed as owing Grow Fit Fund $34,337.

» Achievement Collective
» ACN: 642 352 949
» Status: Liquidated

Achievement Collective was a registered provider with the National Disability Insurance Scheme (NDIS), and, as shown below, this company also had ties—or at least was promoted—to the jewellery industry.

According to ASIC records, the company was co-founded in July 2020 by Phanthapangna and another individual, Jye Owen Sims. According to WHOIS, the public directory for domain name registrations, Sims registered the company’s website, which, at the time of publication, is inactive.

A social media account associated with the company remains active and explains that: “Our commitment is to build and strengthen people living with a mental health condition or disability’s resilience, self-belief and overall confidence by providing the best quality services tailored to support all aspects of someone’s life.”

Jye Sims was initially registered at ASIC as the director and secretary of Achievement Collective; however, it must be noted that at the time of liquidation, only Phanthapangna was recorded as director and secretary. The sole shareholder at the time of the company’s collapse was Alphabet Technologies, which, as mentioned, is owned by Phanthapangna.

Achievement Collective was placed into the hands of Bernardi Martin on 8 July 2025, one day after Banquet Creative. These two companies were liquidated on the same day, 14 July 2025.

Despite functioning as an NDIS service provider, Achievement Collective has some unusual associations with the jewellery industry beyond Phanthapangna’s overlapping ownership.

In 2023, the company was promoted as ‘partnering’ with the Phanthapangna and Moore-owned Jewellery Industry Network to host a jewellery industry ‘wellness initiative’ in Adelaide.

The Achievement Collective event was promoted in Jewellery World – yet another business owned by Phanthapangna and Moore.

Further examples will be demonstrated in a subsequent report.

» AG Marketing Group
» ACN: 641 870 859
» Status: Liquidated

One of the stated aims on the Grow Fit Fund’s website is that the charity would, “provide funding to support youth facing economical or social disadvantage into clubs through payment of registration fees, new apparel, transportation and potential scholarships.”

As mentioned, Glenn Fuller was a director and shareholder of Grow Fit Fund alongside Phanthapangna. It has since been learned that Fuller has had several prior dealings with insolvency firm Bernardi Martin, which includes the liquidation of a company specialising in sports uniforms.

ASIC records show that Fuller was a director of AG Marketing Group, which was placed into liquidation on 31 January 2024. The liquidators report explained that it primarily operated in Adelaide and Mackay, Queensland and it "was in clothing embroidery and material printing for commercial businesses, schools, clubs and societies."

AG Marketing Group had two shareholders at the time, Alphabet Technologies and Something Now, the same two companies that were shareholders of Grow Fit Fund when it was established. These companies are owned by Phanthapangna and Fuller, respectively.

Grow Fit Fund's president and director Glenn Fuller, attended the Andy Phanthapangna and Laura Moore-owned Jewellery Industry Fair as an exhibitor (Fullhammer) and also presented a seminar. Two of the companies for which Glenn Fuller was a director were liquidated by Bernardi Martin. AG Marketing, of which Andy Phanthapangna was also a director and shareholder, collapsed with more than $2 million in liabilities. Glen Fuller and Andy Phanthapangna were directors of the collapsed children's charity - Grow Fit Fund - and Laura Moore was a board member.

AG Marketing Group had two shareholders at the time, Alphabet Technologies and Something Now, the same two companies that were shareholders of Grow Fit Fund when it was established. These companies are owned by Phanthapangna and Fuller, respectively.

Grow Fit Fund announced on social media on 13 March 2023 that a “growing network of people” is supporting the charity and that a company named Fullhammer was the major sponsor of an upcoming fundraiser.

While ASIC records show that Fullhammer is a business name owned by The Trustee for Industry Apparel and Uniforms Unit Trust, Jye Owen Sims was recorded as director of Industry Apparel and Uniforms and was listed as shareholder via another entity Jote & Co.

He resigned as director in August; however, Jote & Co remains as a shareholder.

As explained above, Sims was the founding director of the now liquidated NDIS provider, Achievement Collective.

To add to this complex entwining of companies, the Fullhammer website was not registered by Industry Apparel and Uniforms or Sims, but rather yet another company known as Beemede.

Not only is Fuller recorded as director and secretary, Beemede was liquidated on 1 February 2024, again by Bernardi Martin.

Interestingly, ASIC records list the registered place of business for AG Marketing Group as 33-43 Port Road, Thebarton.

This is the same registered place of business recorded by Beemede and Alphabet Technologies, Grow Fit Fund, and, as will be noted, many other companies.

For example, ASIC records reveal that yet another Phanthapangn and Moore-owned company behind the acquisition of Jewellery World, which occurred around July 2022, was also registered at this address: 43 Port Road, Thebarton.

As will be demonstrated in a subsequent report, this company was served with a wind up order by the Deputy Commissioner of Taxation. 

It will also show how, in a similar fashion to Banquet Creative, Fullhammer exhibited at the Jewellery Industry Fair, organised by the Jewellery Industry Network while Glenn Fuller delivered seminars at the same event. Both Fuller and Fullhammer also received editorial support and coverage in Jewellery World.

But wait, there’s more…

As detailed above, this brings to five the number of liquidated companies that were owned by Phanthapangna and Fuller, and/or in which they were directors and which have had unusual connections to the jewellery industry.

Seven companies of which Andy Phanthapangna was a director have been liquidated and one was described by the Liquidator as being “insolvent from inception”. It promoted its connections to the company that owned Jewellery World and which was issued with an ATO wind up order in January 2024. » Read More

With that said, the list does not stop here.

The administrator’s report for Grow Fit Fund lists more companies as creditors, which are associated with Phanthapangna and which have been, or are currently under, liquidation procedures by Bernardi Martin.

This article serves to examine a selection of interconnected entities, revealing patterns of shared ownership, overlapping directorships, and repeated associations with the jewellery industry.

With that said, the examples explored above represent only a portion of the broader network.

In the second article, Jeweller examines another three liquidated businesses for which Phanthapangna was a director and/or shareholder.

For those who have kept count, this will mean at least eight companies that have been liquidated by Bernardi Martin and which will wind their way back in some form to the Jewellery Industry Network, Jewellery Industry Fair, and Jewellery World.

The links between these companies, through complex structures and frequent insolvencies, raise important questions and, when viewed together, could raise serious concerns for government regulators.
 

Editor's Note: This publication’s interest in director-related and family-related businesses associated with the Jewellery Industry Network was spurned during the research for the ‘Jewellery Trade Shows’ project, which was published between June 2024 and March 2025.

The purpose of that project was to provide retail buyers with a like-for-like comparison of two jewellery industry trade shows held in Sydney on the same weekend in August 2024.

During that project’s research, the volume of director and ownership overlap between companies associated with the Jewellery Industry Network, Jewellery Industry Fair, and Jewellery World was noted, and this report is a result of that investigation.

This exhaustive research is based on publicly available information, and, as mentioned, numerous attempts were made to contact relevant individuals for comment.

Jeweller does not suggest that any of the individuals referenced in this story have acted unlawfully.

Readers must assess for themselves the significance of director-related and family-related connections between businesses and the wider jewellery industry. 

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