ASIC Announces Radisson Maine Director Extradicted To Sydney To Face ASIC Charges

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 Pty Ltd appeared today in Sydney Central Court following his extradition from the United Kingdom on Saturday 1 September 2007.

Mr Bassili was arrested in London on 20 May 2007 on preliminary arrest warrants issued following an Australian Securities and Investments Commission (ASIC) investigation. He did not oppose extradition and was ordered to return to Australia.

Mr Bassili has been charged with one count of dishonest conduct under the Corporations Act and five counts of fraudulently omitting to account for moneys under the NSW Crimes Act. The charges relate to the misappropriation of $766,000.

Mr Bassili did not apply for bail and was remanded in custody until the 24 October 2007 when the matter will return to Court.
The Commonwealth Director of Public Prosecutions is prosecuting the matter.

Background
On 28 October 2004, the NSW Supreme Court ordered that RAN Holdings International and its main subsidiary, Radisson Maine Property Group (Australia) be wound up.

RAN Holdings International and Radisson Maine Property Group were involved in raising money from the public for property development in Victoria when the companies were placed in liquidation.

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