rivkin another swindling jewrk

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    Rivkin role in corporate mystery revealed
    October 30, 2003 - 7:53AM

    Stockbroker Rene Rivkin has been revealed as a key player in a 1990s corporate mystery.

    The Australian Financial Review newspaper reports that Swiss authorities have identified Rivkin, former Labor cabinet minister Graham Richardson and Qantas director Trevor Kennedy as the owners of a 38 per cent controlling stake in printing group Offset Alpine.

    The Australian Securities and Investment Commission had tried unsuccessfully for years to discover the identity of the ultimate owners of the Offset Alpine stake, but were thwarted by Swiss banking laws.

    ASIC had traced a block of 38 per cent of Offset Alpine shares to two financial institutions in Switzerland, Bank Leumi and EBC Zurich, but Swiss laws halted the investigation.

    However Rivkin had admitted using Swiss accounts to anonymously trade in Australian shares for himself and sometimes Kennedy and Richardson, the newspaper reported.

    The three men had wanted details of the accounts kept secret.

    Rivkin had revealed the use of the accounts during a formal examination by the Zurich District Attorney's Office on December 10 last year, said the Financial Review, quoting from transcripts.

    The three men were revealed as owners of the shares because they were unwittingly caught up in a Swiss investigation into $300 million in missing funds and embezzlement charges against the former head of private banking at Bank Leumi in Zurich, Ernst Imfeld.


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