Former Chartwell director to face trial
The former director of the investment company Chartwell Enterprises, Graeme Hoy, has been committed to stand trial in the Supreme Court of Victoria on charges brought by the Australian Securities and Investments Commission (ASIC).
Chartwell was a Geelong-based company that allegedly traded investor funds on local and global financial markets. It entered voluntary administration in April 2008 before being placed into liquidation — allegedly owing investors more than $60 million.
In August 2009, Hoy pleaded not guilty to a total of 224 charges related to carrying on a financial services business without a financial services licence, obtaining a financial advantage by deception, obtaining property by deception, dishonest conduct and dishonest use of position.
The committal hearing for former Chartwell secretary, Ian Rau, is currently underway in the Geelong Magistrates Court.
Rau has been charged with a total of 19 offences relating to carrying on a financial services business without a financial services licence, engaging in dishonest conduct, using false documents, obtaining a financial advantage by deception, obtaining property by deception and dishonest use of position.
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