Former Chartwell secretary gets jail sentence
Former Chartwell secretary Ian Rau has been sentenced to two years and seven months imprisonment on eight charges brought by the Australian Securities and Investments Commission (ASIC).
Rau was sentenced in the Victorian Supreme Court after pleading guilty to carrying on a financial services business without a financial services licence, engaging in dishonest conduct, making and using a false document, and obtaining property worth $40,000 by deception.
The charges followed an ASIC investigation into Chartwell Enterprises, which collapsed in April 2008 with investors owed in excess of $60 million.
Rau will serve 18 months jail before being eligible for parole.
His co-accused, former company director Graeme Hoy, has pleaded not guilty, and will stand trial on 82 charges in the Victorian Supreme Court in Melbourne next year.
AUTHOR
Milana Pokrajac
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