A manhunt is underway for Peter Foster with the infamous conman failing to hand himself over to police despite being ordered to do so by a court on Friday.
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A police spokeswoman said there was no record that the 51-year-old had surrendered himself to a Gold Coast police station by the 5pm deadline set in Federal Court on Friday after he was found guilty of contempt.
Foster's legal counsel was told if he failed to hand himself in, a warrant for his arrest would come into immediate effect.
The multiple bankrupt was not in the Federal Court in Brisbane on Friday to hear the verdict, having defied a court order to attend.
Instead Justice John Logan read his judgment to Foster's legal counsel and the prosecution, in which he found that the Australian Competition and Consumer Commission had proven both charges of contempt against the flamboyant Gold Coast resident.
Foster's counsel submitted a letter from the 51-year-old to Justice Logan which explained his absence from court - among the reasons given was his mother's poor health, which is one of the reasons Foster was given bail when the case first hit the legal sphere.
He was arrested at his mother's bedside in late 2011 but released soon after on a $120,000 surety in order to care for his mother, who he is famously close to.
The second reason given to Justice Logan was described as Foster's "understandable discomfort that the case was finally going to be decided - and not having enough notice of that".
Foster was given until 5pm, about two hours after Justice Logan handed down his judgement, in order to give him time to make "other arrangements" for his mother and "some farewells" before heading to what is expected to be the Southport Police Station.
Justice Logan said there was a "humane basis for allowing Mr Foster a degree of latitude in terms of surrendering himself voluntarily", despite failing to attend his court appearance.
From there he'll head to the Southport Watch-house, before being transferred to a Brisbane prison.
Foster's case dates back to 2005 when a federal court ordered Foster not to have anything to do with the weight-loss industry for five years.
The ACCC argued Foster, using others as front men, put together another weightloss scam, this time under the name SensaSlim in 2009.
The ACCC argued Foster was involved in targeting potential franchisees between December 2009 and December 2010.
Former business partners came forward to explain Foster's role in the scam and Foster was arrested in 2011. In June 2012 the ACCC was finally able to take the matter to court, arguing Foster was in contempt of the original 2005 order.
A further hearing, expected to deal with sentencing and costs, was set down for October 24 at 10.15am.
Foster in trouble
1962 Born Peter Clarence Foster in Queensland.
1980s Promotes Bai Lin tea in Britain and dates Page 3 girl Samantha Fox.
1988 His UK company Slimweight, which promoted bogus weight-loss product Bai Lin tea, collapses.
Early 1989 Declared bankrupt, flees to California.
July 1989 Four-month suspended sentence for false advertising and drug advertising offences in the US over Cho Lo tea, a repeat of the Bai Lin scam.
September 1989 Returns to Australia.
1994 Returns to Britain and begins promoting another weight-loss product, the Deakin Diet.
1995-6 Convicted for supplying goods with a false description in Britain and, after an appeal, sentenced to 18 months' jail.
1997 Absconds while on day release and flees to Australia, where he is arrested for extradition to Britain. Granted $250,000 bail, he fails to appear at court.
1998 Police catch Foster in Frankston. He pleads guilty to assaulting police, resisting arrest, escaping and damaging Commonwealth property. Sentenced to six months' jail, suspended after 14 days.
2000 Sentenced by UK court to 22 months' jail and disqualified from being a director for five years on three counts of using a false instrument over his involvement in Foremost, a company that sold a thigh-reduction cream.
2001 Tips $1 million into establishing new political party in Fiji.
2002 Begins selling another diet product, Trimit, through Australian company Chaste Corporation.
2002 Political scandal in Britain when he helps then prime minister Tony Blair's wife, Cherie, buy a flat at a discount.
2005 Federal Court bans Foster from the weight-loss industry for five years.
2007 Sentenced by Vanuatu court to six weeks' jail for being a prohibited immigrant.
2007 Appears in Brisbane Supreme Court charged over money laundering scam against the Bank of the Federated States of Micronesia. Is sentenced to at least two years and three months' jail.
2008 Declared bankrupt again.
2009 Begins work on SensaSlim.