Unitholders may be interested to note the hefty jail sentence recently handed down to Mr Graeme Hoy, of Chartwell Investment Company, in relation to his role in operating a Ponzi scheme and making misleading and deceptive statements to investors.  The Prime Trust Action Group believes that Prime Trust used new subscriptions and additional borrowings to finance distributions and therefore also contained elements of a Ponzi scheme.  Further information about Graeme Hoy and Chartwell Investment Company is available from the link below:

 

http://www.heraldsun.com.au/news/victoria/graeme-hoy-jailed-for-nine-years-over-collapse-of-chartwell-enterprises/story-e6frf7kx-1226026793935