ASIC pursues criminal charges
The former company secretary of an investment company, Chartwell Enterprises, Ian Rau, has been arrested in Brisbane today and charged on 19 counts relating to allegations leveled by the Australian Securities and Investments Commission (ASIC).
The regulator announced today that Rau had been arrested by Queensland Police and bailed to appear in the Geelong Magistrates Court in September.
A former director of Chartwell, Graeme Hoy, was also charged in relation to 22 alleged offences and will also appear in the Geelong Magistrates Court in September.
ASIC explained that Chartwell was a Geelong-based company that allegedly traded investor funds on local and global financial markets and entered voluntary administration in April last year, before being placed into liquidation allegedly owing investors in excess of $60 million.
Rau faces charges relating to carrying on a financial services business without a financial services licence, engaging in dishonest conduct in relation to financial services, using false documents and obtaining financial advantage by deception.
Hoy faces charges of carrying on a financial services business without a licence, obtaining financial advantage by deception, obtaining property by deception, dishonest conduct and dishonest use of his position in a company.
AUTHOR
Mike Taylor
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