NSW man arrested in London

A NEW South Wales man who was once the chief executive of a failed property company has being arrested in London, the Australian Securities and Investments commission said.

Robert Bassili, former director of Radisson Maine Property Group (Australia) and former chief executive of RAN Holdings International, was arrested in London on May 20 2007, on preliminary arrest warrants issued further to an ASIC investigation.

Bassili is now subject to extradition proceedings in the United Kingdom.

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

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

ASIC said yesterday 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, Bassili left for the Ukraine following successful court action by ASIC to wind up Radisson Maine Property Group (Australia) and RAN Holdings International.

ASIC has been monitoring Bassili’s movements with the assistance of Interpol Ukraine.

Bassili travelled to London from the Ukraine on or about May 14 2007 and was arrested at Heathrow Airport six days later.

Australian Property Journal