The International Marbella Set

Monday 16 January 2012

 

One of Australia's former leading art dealers, Ronald Coles, faces up to 10 years in jail after being charged today with 87 offences relating to an alleged multimillion-dollar investment art fraud scheme. Mr Coles, 64, was ordered to appear at Gosford police station at 10am today. Fraud Squad detectives formally charged him following an "extremely protracted and legally intricate" two-year investigation into his business affairs. Under the Crimes Act, Mr Coles was charged with 77 counts of "larceny as a bailee" and a further 10 counts of "director/officer cheat or defraud". For more than 30 years, Mr Coles specialised in fine art by some of Australia's most celebrated artists, including Sir Arthur Streeton, Eugene von Guerard, Brett Whiteley and Norman Lyndsay. Advertising on national radio and television, he offered clients an opportunity to boost their life savings through the purchase of investment art, which he bought and sold on their behalf, using their superannuation funds. NSW Police launched Strike Force Glasson in January 2009 after a Fairfax investigation unearthed dozens of investors who were missing millions of dollars in lost art and money, all allegedly retained by Mr Coles. Today's police charges relate to more than $8 million in financial loss to a total of 43 clients nationwide. Mr Coles failed to make conditional bail of $50,000. It is understood he offered a car and paintings as surety but they were refused. He is due to appear at Gosford Local Court shortly.

0 comments:

Post a Comment

Categories

'Cheating' Chilean miner rescued (1) 'Codependency is not about a relationship with an addict (1) 000 inhabitants (1) A Pole Addict's 12 Step Program: Step 12 (1) ADDICTED TO LOVE (1) CONTINUE ENGAGING YOUR PRIMARY MATE (1) Celebs manage a quiet divorce (1) China’s aggressive new regulations aimed at cooling off the nation’s real estate market have led to the first decline in housing prices in 16 months (1) Courtney Cox was cheating (1) Depression (1) Hollywood ex-romance: Shia LaBeouf and Carey Mulligan confirm their Split (1) INVEST IN A “PAY-AS-YOU-GO” PHONE (1) Jerry Hall former model and wife of Rolling Stones singer Mick Jagger (1) Joaquin Villanova (1) Juhu-based actress has lodged a case against her husband and his two brother-in-laws from his first marriage for cheating and threatening her. (1) Successful businesses must focus on relationship building (1) That was the best sex ever (1) Tiger Woods Tiger hole number 3 (1) What is Compulsive Sexual Behavior (1) as ‘outrageous’ for a municipality of 30 (1) but she didn't give up looking for me at just one strip club. (1) control battles take place (1) denounced the salary of the Mayor (1) has revealed her ex-husband’s addiction for poker and women. (1) husband was having sex with someone else (1) it is the absence of relationship with self (1) mood swings and irritability - these symptoms are more visible in men when they break up with their girlfriends. (1) signs of a cheating wife you can't ignore (1) “It was like she was stalking me. “She definitely knew who I was and wanted to meet me and talk things over (1)

Unordered List

Disclaimer

Disclaimer: The statements and articles listed here, and any opinions, are those of the writers alone, and neither are opinions of nor reflect the views of this Blog. Aggregated content created by others is the sole responsibility of the writers and its accuracy and completeness are not endorsed or guaranteed. This goes for all those links, too: Blogs have no control over the information you access via such links, does not endorse that information, cannot guarantee the accuracy of the information provided or any analysis based thereon, and shall not be responsible for it or for the consequences of your use of that information.

Blog Archive

Pageviews from the past week

Subscribe via email

Enter your email address:

Delivered by FeedBurner

Members

Powered by Blogger.

Translate

LinkWithin

Related Posts Plugin for WordPress, Blogger...

Popular Posts

THE INTERNATIONAL MARBELLA SET

THE INTERNATIONAL MARBELLA SET

Popular Posts