The missing owners of a share trading company Chartwell Enterprises, which after its collapse owes millions of dollars to its staff and investors and is currently investigated by the Australian Securities and Investments Commission, now are discovered to have a company operating in the British Virgin Islands.
According to some documents, last year Ian Rau and Graeme Hoy negotiated through the Maltese Bank of Valetta to create the offshore company Blenheim House Investments (BVI) Ltd.
Blenheim House also holds all 10 shares in a holding company registered under the name of Delaware Corporation, of which Mr Hoy and Mr Rau are listed as sole directors.
Company search of Delaware showed an address in suburban East Geelong as the company’s place of business, but when it was visited by the press representatives, it was founded to be owned by a middle-aged couple for the past 35 years which did not know anything about the company’s owners.
On April 23, it was reported that there are documents, now handed to Australian Securities and Investments Commission, where it is suggested that Mr Hoy was sending millions of dollars offshore before the collapse of Chartwell Enterprises. The documents prove that Mr Hoy had established companies overseas and had channelled millions of dollars into them, and included papers referring to overseas tax havens, regular payments to and from a Vanuatu investment firm including one $9 million transaction, and Blenheim House Investments Ltd, registered in the British Virgin Islands and led by Graeme Hoy.
Also, it became known that Blenheim House operated out of the registered offices of offshore business consultants Intershore Consult. The attempts to contact Graeme Hoy and Ian Rau, as well as Intershore, have failed.