The home maintenance company caught up in an alleged $3 million fraud says some of the ironing businesses sold by one of its master franchisees are genuine.
Up to 200 investors say they are considering legal action after seized documents show they were duped into buying non-existent franchises.
Green Acres chief executive Andrew Chisholm says they have been painstakingly going through piece after piece of information.
What the documents reveal is an elaborate plan to defraud millions by running a fake ironing business through the country's largest franchise operator, Green Acres.
The fraud's mastermind, Keith Lapham, has been with the company for eight years and it is believed his scam has been going on for the past 12 months.
Lapham has now disappeared.
His client list makes interesting reading - names like Brad Pitt, Frank Sinatra and Oscar Wilde were used to create a view that actual clients existed.
"He's gone to the op shop, he's gone to the Salvation army and actually purchased clothes and gone through the process of filling in work sheets," says Chisholm.
Chrisholm says investors in the fake franschises "have been caught up in a hell of a mess" and that the company's sympathies go out to them.
Yash Mohammed was one of those who unwittingly invested tens of thousands of dollars in the bogus ironing business with fictitious clients.
"I thought Green Acres is a big company, they are huge so it shouldn't go wrong. That's what we thought, it shouldn't go wrong," he says.
Not all of the almost 200 franchises are fake, there are two genuine ironing businesses which will continue in the New year.
Meanwhile, those caught up in the scam are banding together to mount a legal case.
The Serious Fraud Office and police have also launched an
investigation.
