LAWFUEL – The Legal Newswire – Mr Robert Bassili, former director of Radisson Maine Property Group (Australia) Pty Ltd and former Chief Executive Officer of RAN Holdings International Ltd, was arrested in London on 20 May 2007, on preliminary arrest warrants issued further to an Australian Securities and Investments Commission (ASIC) investigation.
For legal reasons, ASIC is only now able to publicly confirm the arrest of Mr Bassili.
The preliminary arrest warrants relate to one count of dishonest conduct under the Corporations Act and five counts of fraudulently omitting to account for money under the NSW Crimes Act, involving a total of $766,389.
In December 2004, Mr Bassili left for the Ukraine following successful court action by ASIC to wind up Radisson Maine Property Group (Australia) and RAN Holdings International Pty Ltd.
ASIC has been monitoring Mr Bassili’s movements with the assistance of Interpol Ukraine. Mr Bassili travelled to London from the Ukraine on or about 14 May 2007 and was arrested at Heathrow Airport six days later.
Mr Bassili is now subject to extradition proceedings in the United Kingdom (UK). The Australian Attorney General’s Department is managing Australia’s involvement in these proceedings.
The timeframe for Mr Bassili’s extradition is dependent upon the UK’s extradition process.
Further information about the Australian extradition process is available on the Attorney-General’s website: www.ag.gov.au/extraditionandma.
Background
On 28 October 2004, the NSW Supreme Court ordered that RAN Holdings International Pty Ltd and its main subsidiary, Radisson Maine Property Group (Australia) Pty Ltd, be wound up.
RAN Holdings International Pty Ltd and Radisson Maine Property Group (Australia) Pty Ltd were involved in raising money from the public for property development in Victoria when their companies were placed into liquidation.
