Mr Ian Rau, the former company secretary of Chartwell Enterprises Pty Ltd (Chartwell Enterprises), has been sentenced today to two years and seven months imprisonment on eight charges brought by ASIC.
Mr Rau, of Footscray, Victoria, was sentenced in the Victorian Supreme Court after pleading guilty on 26 March 2010 to one count of carrying on a financial services business without a financial services licence, four counts of engaging in dishonest conduct in relation to carrying on a financial services business, and one count each of making a false document, using a false document, and obtaining property worth $40,000 by deception.
These charges followed an ASIC investigation into Chartwell Enterprises and reflect the Commission’s commitment to assisting and protecting retail investors. Chartwell Enterprises collapsed in April 2008 with investors owed in excess of $60 million.
Mr Rau is required to serve 18 months jail before being eligible for parole.
Mr Rau’s co accused, Mr Graeme Hoy, who has pleaded not guilty, has been ordered to stand trial on 82 charges in the Victorian Supreme Court in Melbourne on a date to be fixed in 2011.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
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