A gambling whiz kid who flaunted his lavish lifestyle before going underground amid claims he owed investors $126million has broken his silence to insist their money is 'safe as houses' - despite having his assets frozen and being declared bankrupt.

Chris Brown, 27, is besieged by multiple lawsuits by angry investors - many of whom are friends and family - who claim to have not seen returns from his bet-hedging operation.

Brown, from the ritzy Perth suburb of Dalkeith, claimed to pull big wins using his gambling model that cashes in on odds for horses shortening as races approach.

Mr Brown told 9 News the money was 'safe as houses' and said creditors - such as his own grandparents Joan and Clarence Donovan - will get their money back.

The former student from prestigious $27,000-a-year private school Aquinas College insisted he has $172million in his bank.

Angry creditors who said they haven't seen returns on their investments include mining businessmen Kade Lang and Adam Wilson, race caller Darren McAullay and property developer John Norup.

His grandparents have sued him, claiming he owes them $82,000, but all investors will have to wait two weeks to see if their money can be recuperated.

Mr Brown has not hired a lawyer.

He would send creditors screenshots of bank statements, showing millions of dollars in bank accounts they thought he controlled.

Mr Brown's Instagram profile shows him partying on boats, playing on exclusive golf courses, and sitting inside swanky wine bars.

Other posts show him rubbing shoulders with millionaires and AFL greats Chris Judd and Simon Black.

The two footballers claim not to remember the photo being snapped and Black guessed it was taken at a grand final parties with the pair thinking he was a fan wanting a selfie.

Mr Brown's business activities - which included bet-hedging schemes - was backed by family members, schoolmates, and business associates over the past five years.

Other financial backers of Mr Brown included equipment hire entrepreneur Jaysen Tayler, who went to the Federal Court in March seeking to recover $65.5m he is personally owed by Mr Brown.

According to receivership orders issued by the court, Mr Brown admitted to owing $34.4m to Nameo, the private company of another financial backer, Nader El Sayed.