60 Minutes Australia: Boom to bust, part one (2017)

It’s no secret that the big banks can be ruthless when they want their money back. But this story reveals a new low in their breathtaking arrogance. For more than 30 years Roy Lavis helped to build Cairns and turn it into the bustling tourist mecca it is today. His construction company also directly and indirectly employed several thousand locals. Roy’s business was so prosperous the Commonwealth Bank threw money at him and encouraged him to expand. In return he always paid them back on time, principal and interest. Everyone was a winner. Until suddenly the bank changed its mind.
Reporter: Ross Coulthart
Producer: Grace Tobin