chartwell enterprises geelong in receivership

From the Gellong Advertiser today:

MUM and dad investors fear they have lost millions of dollars after share trader Chartwell Enterprises yesterday ceased trading.

Some had invested their life savings with the promise of returns as high as 70 per cent, depending on their contribution, according to documents seen by this newspaper.

The Geelong Advertiser yesterday spoke to many investors who said they had received personal phone calls telling them the company was in financial difficulty.

An email from director Graeme Hoy to 23 investors says simply: "Chartwell has gone into receivership and voluntary administration. I am sorry."




Another disaster. When is ASIC going to catch up with the game?