He was chair of the Bond Corporation 1969-90 during the years when its aggressive takeover strategy gave the company interests in brewing, the media, mining, and retailing. In 1983 Bond led a syndicate that sponsored the winning yacht in the America's Cup race. The collapse of the Bond empire 1990 left thousands of investors impoverished and shook both Australian and international business confidence. By 1988 the Bond Corporation could boast assets of almost A$10 billion (ú4 billion) and Bond himself, as Australia's fifth-richest man, had an estimated personal wealth of A$400 million. However, his compulsive takeover deals and excessive borrowing from banks eventually led to the corporation's bankruptcy, forcing his resignation Jan 1990 and leaving the company with debts of A$12 billion. Declared bankrupt April 1992 with debts of at least ú110 million, Bond was jailed May 1992 on fraud charges relating to the collapse of an Australian merchant bank, although this sentence was quashed by the appeals court Nov 1992. In Jan 1995 he was arrested and charged with fraud and misconduct relating to corporate deals in the 1980s. He was voted out of bankruptcy by his creditors Feb 1995.
