19. August 2010 16:48
Mr Ian Rau, former company secretary of Chartwell Enterprises Pty Ltd, was sentenced today to two years seven months imprisonment on eight charges brought by ASIC.
Mr Rau pleaded guilty on 26 March to carrying on a financial services business without a license, and various dishonesty offences. He must serve 18 months before being eligible for parole.
His co-accused, Mr Graeme Hoy, has pleaded not guilty and will stand trial in 2011 in the Victorian Supreme Court on 82 charges.
Chartwell Enterprises collapsed in April 2008, owing investors over $60 million.
More information is available on the ASIC site.