Monday 11 September 2006 06- LAWFUEL – Law News Network – Mr Nick Po…

Monday 11 September 2006 06- LAWFUEL – Law News Network – Mr Nick Popov, a former director of RAN Holdings International Pty Ltd (In Liquidation), was arrested by the Australian Federal Police at Brisbane Airport last night. Mr Popov was in possession of a one-way airline ticket to Munich, Germany. The Australian Securities and Investments Commission (ASIC) was recently granted an arrest warrant by the New South Wales Local Court for the arrest of Mr Popov, following his return to Australia from the Ukraine and Germany in June 2006. Mr Popov and a fellow director of Radisson Maine Property Group Pty Ltd ( In Liquidation), Mr Robert Bassili, left Australia in November and December 2004 respectively.

Mr Popov was arrested on one count of contravening the NSW Crimes Act in relation to an alleged fraudulent property deal involving a young Sydney couple who lost $245,000. Mr Popov appeared in the Brisbane Magistrates Court this morning. He was remanded in custody and ordered to be extradited to Sydney. Mr Popov will appear in the Downing Centre Court on Wednesday, 13 September 2006. RAN Holdings International and its main subsidiary, Radisson Maine Property Group, were ordered to be wound up by the NSW Supreme Court on 28 October 2004. RAN Holdings International and Radisson Maine Property Group were involved in raising money from the public for property development in Victoria when their companies were placed in liquidation.

Mr Popov will be prosecuted by the Commonwealth Director of Public Prosecutions. ASIC’s investigation is continuing. For further information contact: Allen Turton Deputy Executive Director, Enforcement Telephone: 02 9911 2338 Mobile: 0411 549 236 Danielle Huck ASIC Media Unit Telephone: 03 9280 3407 Mobile: 0417 540 769

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