Through the eyes of those who know him, the Newcastle inventor revels in the limelight, travelling the world seated comfortably in business class, indulging in the idea of fame.

With the gift of the gab, Ashard has the ability to strike up a conversation with complete strangers, whether at the local pub or a fast food joint.

"The funny thing was, Ashard never had an office," one Lake Macquarie investor said. "I've since worked out that he'd go down to McDonald's, or somewhere where there are people in the public, and he'd just start striking up conversations with people and try to get them to invest."

Once Ashard had planted the seed of "hey, I can make you money", people would start to listen.

The Lake Macquarie investor, who requested anonymity, is a tradesman and runs his own refrigeration business. He and his wife used a line of credit to invest $45,000 in Ashard's self-inflatable life jacket company ASI360 International.

"It was the way you sold it; being an electrician - a refrigeration mechanic - I'm technically minded," the business owner said. "The whole device was quite astonishing how it worked and that's where my ears pricked up and I thought, you know, this might be the one opportunity where you can get on board early and invest in it."

The much-hyped self-inflatable and inflatable kids' rash vest, were promoted as having the potential to save more than one million lives lost to needless drownings each year.

The business owner worked closely with Ashard so, when he noticed the inventor didn't have an office, he offered him one of the spare ones in his building free of charge.

"And he just blatantly refused to use a modern, brand new office and that's what sort of made me think, hang on what's going on here?" he said. "I've since found out, he went to the Bushwhacker's at Mount Hutton and convinced a couple of people to invest in another product."

The sell

The Newcastle Herald revealed last week that Ashard has been winning over investors for decades with his seemingly ingenious ideas and endless talk that a major breakthrough is just around the corner. ASI360 raised more than $1 million for the life jacket that never made it into production.

Like many of the other investors the Newcastle Herald spoke to, the business owner described his first impressions of Ashard as a normal bloke, not eccentric but genuine. He believes what made Ashard so good at convincing people to invest was his ability to "come down to normal people's level".

"He would sell it as, 'I really want to look after you guys as investors, all local people, and see us be successful'," the business owner said.

Ashard didn't want big companies involved; he only wanted local mum-and-dad investors.

However, the business owner wasn't the only person in his family who invested in the life jackets - his elderly parents got on board too. The business owner said he felt terrible and guilty. In total, the Lake Macquarie family lost $105,000.

"I thought it was a good opportunity for them to set themselves up for life... and it was my fault," he said.

Grandparents "gutted"

His parents, who also requested anonymity, used their superannuation savings to invest $60,000 in Ashard's life jackets.

"We were pretty torn apart by it. I was just getting ready to retire," the business owner's father said. "Everybody was under the same umbrella and thought it was going to be a good thing that we invest in, but it never eventuated. We never heard from him again after that."

The couple said Ashard came across as a competent businessman. "I was gutted," his wife said. "I believe he needs to be stopped before he takes other people's savings like he's taken ours."

Investors left high and dry

The Lake Macquarie family members aren't the only people wanting Ashard stopped.

Belmont's Julie Morris, 68, invested $45,000 in Ashard's life jackets.

"He had all these promises he would make... but then you would find out later down the track that all the money we had invested was never going to ever come to fruition," she said.

Ms Morris said she remembers her frustration watching Ashard on Channel 9's Saturday program, Morning. "It wasn't anything that we thought it was going to be; it was just him speaking about himself and what he's come up with," she said.

The promotional stunt cost the company $90,000 for Ashard to appear on national television, resulting in only a handful of life jackets sold and angry viewers who never received their product.

The gift of the gab

Numerous investors told the Newcastle Herald Ashard was also a formidable name-dropper. He claimed Susie Maroney, Grant Hackett, Ellen DeGeneres and Justin Beiber were all going to promote his products.

"He's a prolific liar and believes his own lies," the business owner said. "I think he lies so much that he doesn't remember what he's lied about, and I've caught him out on that a few times too."

The business owner said Ashard told him Surf Life Saving Australia (SLSA) and the Australian Navy were interested in sewing his lifesaving devices into uniforms.

"[SLSA] were very interested in it for their surf titles for the guys to wear in their singlets because it was just after a young guy drowned up a Kurrawa Beach in the Australian titles," he said. "And I thought, wow, this is incredible. If this kid had it, it could've saved his life."

He said Ashard had also spoken with a woman whose daughter drowned in a boating accident in Lake Macquarie. The business owner later saw the woman promote and endorse Ashard's inflatable kids' vests online. "So he was just feeding off people that would help him," he said.

Two sides to every story

However, when the Newcastle Herald spoke to Ashard, he said there were always two sides to a story. And from Ashard's side of the story, he has done nothing wrong.

"All I tried to do was try and save lives; that's all I've tried to do my whole life," Ashard said. "I'm an inventor. I spent my whole life inventing. I've never taken money off people for personal use; it's always been to make my inventions."

He describes himself as a simple man who would sit in his shed for hours on end, tirelessly working to get one of his inventions over the line. Ashard confirmed that he has a database with hundreds of inventions, has taken money from "60 or 70 investors" over decades, and agreed none of his inventions had gotten off the ground.

Not one to shy from the media spotlight - from features in local news stories to appearances on national television - such as the ABC's The New Inventors, the Newcastle inventor revels in the idea of fame.

Although according to Ashard, it's never been about the money or celebrity, it was always about the inventions.

Nothing was ever black and white

But all the investors tell the same story: when promises began to unravel and the hard questions were asked, Ashard became unreachable.

They called, left messages and sent emails but it was like Ashard had dropped off the face of the earth.

"It got to the stage when you could never get hold of him, he would never return a call, and that's when we realised the money was gone," Ms Morris said.

She believes what makes Ashard so convincing is his self belief. But the reality was very different.

"When it came to getting information from David - the bank statements, and everything to marry up to see where the money was going - David never showed up with anything," she said.

"He has the gift of gab at the beginning but as soon as he gets the money, it's like he doesn't want to know you and he doesn't tell you anything."

Ms Morris said she fears for the next lot of investors.

"He deserves to be held accountable for this - not just for our product, but everything he's done to people since with all his make-believe inventions," she said. "I just hope God forgives him because we won't."

"Maybe he's just a dreamer"

Last week a Hunter Valley couple, Kim and Scott Waters, represented by barrister Stephen Ryan, won a civil claim against Ashard in Newcastle Local Court after he agreed to repay them $75,000, plus legal costs, from one of his many failed ventures.

Central Coast business owner and single mother, Kerry Redup, 65, lost $60,000 after deciding to invest.

"I was a stranger and some of the people were very close friends, which makes it even worse," she said.

Lakehaven's Vicki Knibbs, 66, was one of those friends.

Ashard had his wedding at her house when he married her friend. So when the newlyweds needed somewhere to live Ms Knibbs offered her rental accommodation at Buff Point.

"We've pretty much not lost anything at all compared to what some of the other poor people have lost," she said. "But I just think, oh my god, the pattern was always there from day one."

Ms Knibbs said Ashard still owed her and her 68-year-old husband, Gary, $2,600.

"I think it was just, you felt sorry for him a little bit," she said. "You wanted to give him a go, I suppose."

He was personable, gently spoken and believable.

"Maybe he's just a dreamer and firmly believes that what he's doing is genuine and he will make his fortune," she said. "But he's not going to stop, that's the bottom line... He just doesn't seem to have any guilt or conscience about what he's doing to people."

David Ashard 'the victim'

Ashard argues he has done everything he can to pay everyone back.

"I feel bad for everybody, but I didn't do wrong by them. I was trying so hard," he said.

Ashard said that he was no longer accepting money for his inventions after having a breakdown due to the pressure of investors chasing him. But the Newcastle Herald has seen messages from a woman indicating she was considering giving him $100,000 in July.

With the heat turned up, Ashard no longer seems to be reveling in the limelight.

"I've had enough; I'm sick of all this. It's not fair," he said. Last month, Ashard released a near 40-minute video and four-page document demanding investors stop spreading lies and threatened to sue anyone who spoke to the press.

"If you find out that I am telling the truth then I want an apology from each and every one of you," he wrote. "Because it shouldn't be Ashard's victims, it should be David Ashard 'the victim'."

IN THE NEWS:

Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content: