Thursday, December 14, 2006

Who is Alfy Lake?

As we have mentioned before, Lan Capital is an elusive company.

According to information from their (now defunct) website, the company was responsible for selling nearly 40 online companies with a total value exceeding $70 million dollars.

A pretty remarkable effort.

Even more remarkably, they claim to have also been responsible for funding (along with Ernst & Young) one of the world’s largest management buy-out’s of Entersoft - one of the world’s biggest online casino who apparently have in excess of 10% of the UK online gaming market.

As if that wasn’t enough to impress us, the Entersoft deal was apparently led by the “famous Luen family” of Denmark – amazingly skillfull.

Given the enormity of the deal you could almost be forgiven for believing it was too good to be true.

What suprises us though, is that given both their size and success, there appears to be scant public information available on either Lan Capital or Entersoft. The Luen family of Belgium obviously also like to keep a low profile.

The only direct internet reference we can find to either company comes the single press release advertising the Entersoft deal (reproduced in the post below). And by even greater coincidence the only result of a google search on the “luen family’ of Belgium was the same release.

Despite their low profile, we do know that Lan Capital was actively touting their business to prospective purchasers of online casinos through the purchase of search key words on a wide range of sites.

We don’t know how successful they were, but clearly any potential client reading their press releases and perusing their website would have been impressed by their credentials.

We can understand that some companies wish to keep a low profile, and online casinos tend to operate under complex international company arrangements. It seems peculiar though that despite having had a seemingly straightforward Melbourne address, Lan Capital itself seems to have never been registered as an Australian company.

The Australian Government were perhaps unaware that they had such an internet success story in their midst, and will no doubt be keen to find out more – surely there should be some sort of award in the offering?

We imaging that ASIC, the ATO the ACC and other relevant government bodies will also be interested to understand more about the activities of this company in order to make sure that their paper work is in order and that nothing is amiss.

The General Manager of the company is a person by the name of “Alfy Lake” but we’ve not been able to find any real life references to a person by that name and the company’s virtual office number seems to have been disconnected in the past few months.

The only contact point that remains seems to be Andrew Landeryou, who given his possession of a form that might be related to LanCapital’s ASIC registration and his other involvements in online casinos, will no doubt be pleased to help the authorities tracking down the company.

Of course we will all stay tuned

Tuesday, December 12, 2006

The vanishing post

We don't know what caused the previous post to vanish - but luckily we had a copy saved elsewhere.

Perhaps we're standing on someone's toes?

We have been working on another story on the activities of Arrowhead Media which is quite interesting but taking a while to track down

So stay tuned.

Friday, December 01, 2006


Just when we thought we had exhausted the list of problematic registered addresses – we’ve managed to dig this up.

These group of companies form the basis of IQ Corporation, and it seems odd to us that a company that had over $8 million invested in it would be plagued by these type of corporate irregularities.


It is clear that Edwards Pearl had made numerous attempts to have the record corrected but were met with silence.

It is a joke – and we think that it should at least put them in the running for an award for the best attempt at making a mockery of the ASIC system of corporate oversight.

We are drawn to the final plea, which seems to echo the dillema of others who have unwittingly been caught up with these companies:

"what further steps can we take we take to ensure that our address is not used"

No doubt a question that ASIC needs to ponder.

Stay Tuned

Tuesday, November 28, 2006

IQ records vanish: was it more than a dot-bomb?

Mid 2003 was obviously a busy time for Andrew Landeryou.

While he was busy wiring funds around the world, questions were beginning to be asked about what had happened to funds invested in his other business IQ Corporation:

According the the Age (August 2004)

IQ records vanish: was it more than a dot-bomb?

Lew wants to know where the money has gone and, so far, Landeryou lacks the answers. Good recall is rare over the failed IQ Corporation, writes Leonie Wood.

When retail tycoon Solomon Lew invested $4million in a company controlled by Andrew Landeryou and his business partner Ed Dale in February 2000, there were big plans to use the funds to build a sports statistics and online gaming group.

Investors from Britain, the Channel Islands and Switzerland had committed a further $4million, in part fuelled by high hopes that the company, IQ Corporation, would win lucrative contracts to supply media outlets with detailed sports data from football matches in Australia and soccer games in Britain and Israel.

It was the peak of the sharemarket boom, IQ had plans to float and Lew wanted a piece of it.

His company, Jordanlane Pty Ltd, ended up with 23 per cent and his closest adviser, Michael McLeod was appointed to the IQ board. Then it all went sour.

Four years later it has degenerated into an unseemly, bitter fight between the powerful Lew interests and the high-profile Landeryou family as a court-appointed liquidator tries to determine what happened to IQ's funds, its books and records, and whatever operating assets it once owned.

But the liquidator's task is made more difficult because, as the Federal Court has heard, most of IQ's books and records have vanished. Judging by the paucity of documents submitted by IQ's former officers to a liquidator's examination this week, IQ's liquidator Gideon Rathner of Lowe Lippmann has quite a task in front of him to resolve the puzzle.

More information is likely to emerge when the examination gets into full swing on August 24. But so far there are far more questions than answers about the curious link-up between the Lew interests and the Landeryous, and how the $8million was spent.

Back in 2000, McLeod said the Lew empire was "very impressed with IQ's management, proprietary technology and their advanced development of a global strategy. We are also pleased with what they have achieved to date and, going forward, we are confident about their business plan."

IQ Media in the late 1990s was a fledgling company with a few ideas on supplying sports statistics to the media. For a brief period, it supplied sport stats to The Age.

In 1999, according to Landeryou, IQ Media's business was sold to IQ Corp, both the IQ Media brand name and an online education business were sold to Isis Corp and Landeryou and Dale toyed with plans to float IQ Corp.

Landeryou said he had known Lew and McLeod for some years and their interest in IQ's prospects evolved into a shareholding. What happened after that time is in dispute.

Troubles first surfaced publicly in mid-2003 when McLeod asked the Federal Court to force IQ's other directors and company officers to give him access to IQ's books and records.

His solicitors told the court then that McLeod was not getting any communication or information from IQ's officers, and that there was trouble locating either the company or its officers or fellow directors when serving court papers ....

Stay tuned

Friday, November 24, 2006

The rent check

According to this report in the Australian, Marbain was still in control of at least the UBAR in June 2003.

The Australian
Louise Perry

A COMPANY believed to be secretly controlled by a former Melbourne University Student Union president and an Australian Labor Party insider was given a $28,000 discount by the union on overdue rent for on-campus food and drink outlets. But when the agreed amount of $49,000 was paid to MUSU, the cheque disappeared and was never banked by the union, the Victorian Supreme Court heard this week.

Marbain Group was a company allegedly controlled by Benjamin Cass -- MUSU president in 2000 -- and ALP apparatchik Andrew Landeryou, but used a "stooge" director to help win union contracts. Marbain was given the leases to two food outlets and the university bar but in a review of MUSU contracts Melbourne law firm Deacons found the contracts were unusually favourable to Marbain.

Gary Bigmore QC, on behalf of the liquidators of the now defunct union, said that once Marbain had won the leases from MUSU, the company sublet one of them to another company -- pocketing $1.2million. He said the leases had been signed for 15 years, even though the union was supposed to only give out five-year leases.

By June 2003, after about six months of not paying rent, the court heard that Marbain owed the union $77,583. Former MUSU commercial services director Dean Sherriff told the court last week that he picked up the cheque from Marbain stooge director Matthew Keats at a coffee shop in Lygon Street, Carlton. He said he then handed over the cheque to an employee in the finance department, but had no idea why it was never banked or seen again.

Former MUSU president Scott Crawford told the court that Mr Sherriff had negotiated the discount on rent owing without permission from the MUSU executive. Despite the missing cheque, MUSU paid Marbain more than $40,000 to cover some missing or broken items in the Ubar"

Yet according to this report in the Age Andrew Landeryou transferred money to HongKong and Cyprus June 2002.

"Andrew Landeryou, son of a former Victorian government minister, transferred $1 million to Hong Kong before he went missing. From there most of the money was sent to a bank account in Cyprus, the Supreme Court was told.

The Melbourne businessman and ALP insider asked stockbroker Kris Knauer to set up a nominee company and a bank account in Hong Kong, saying he had $1 million to invest on the international sharemarket......

.... In May 2003, he asked Mr Knauer to set up a nominee company beneficial to Mr Landeryou in Hong Kong and an account with the Shanghai Commercial Bank. Mr Knauer's local associate, Vincent Yu, did this.

Emails produced by Mr Knauer showed the money had been transferred to a Hong Kong nominee company, Sunrock Ltd, in two "cut-out" tranches in June 2003. Afterwards $100,000 had been transferred back to Australia to Arrowhead Media Sales, a company controlled by Mr Landeryou's brother-in-law, Mathew Mason, while $885,000 had been transferred to the credit of the Cyprus-incorporated company, Avonwood Ltd, at the Bank of Cyprus in Nicosia"

Stay tuned

Marbain leases

While Mr Linden corporate relationship with Lush Bar Australia was brief, he clearly had ongoing links with the bar at the Union.

In proceedings in the Industrial Relations Court relating to Mr. Linden's redundancy, both he and Whities at least agreed that Mr Linden had worked for Whities since they took over operation of the bar on July 31 2003. Mr Linden said that he had also worked for the company that had previously managed the bar.

Mr. Linden makes no mention of who that was, but if was not Whities as is now apparent, then it must have been Marbain itself or another company they had assigned the lease to.

We do know that the proceeds from the assignment of MUSU leases were alledgedly transferred by Marbain to Hong Kong prior to July 31 - so either Whities paid the money in advance to Marbain or in relation to another transaction - or the money came from another source.

Whities did in fact register a charge in relation to a loan with the Arab Bank Australia that could have relate to the payment - but the loan was not finalised until late July.

Stay Tuned.

Thursday, November 23, 2006

Lush Bar Australia

It is not clear who was behind this company, as there appears to be little publicly available shareholder information.

We presume, however, that they had something to do with operating bars at MUSU - as their principal place of business was listed as the first floor of Union House.

It is also fairly safe to assume that this company was somehow related to other companies mentioned in posts below. Their registered address was also (falsely claimed) to be co/ Newell Lock - where it appears companies of a feather liked to flock together.

We also know that after its initial establishment in February 2003, a person by the name of Peter Linden was appointed its’ sole director and secretary. We believe Mr. Linden was a manager of the INU bar until early 2004, when he was made redundant by the operators of the bar, Whities Pty Ltd.

Shortly after his appointment to the company, however, Mr. Linden met with 'the company' where he informed them of his intention to resign.

He followed up in writing the same day and requested that they notify ASIC accordingly.


An analysis of the documents lodged by the company with ASIC over this period though, show a number of peculiarities:

Firstly, the form lodged with ASIC notifying them of Mr. Linden's original appointment to the company in February, appears to have not been signed by him until April 1 - several days after he had notified the company of his resignation.

Secondly, it appears that Mr. Linden continued to sign documents on the company's behalf after his resignation. On April 1, he signed a document notifying ASIC of an issue of shares that took effect in February, and on the same day he notified ASIC that the company's registered address had moved to Newell Lock.

Thirdly, ASIC was notified by the company on the April 11 of Mr. Linden's resignation and the appointment of a new director as of April 4 - rather than March 28.

It is possible that Mr Linden Agreed agreed to hold over his resignation from March 28 to April 4, so that he could continue to conduct business for the company - except he also submitted a documents to ASIC later in the year that seemed to affirm, in fairly unequivocal terms, that he believed he had resigned on March 28.

Obviously, the resignation of Mr. Linden, and the lack of a continuing director, posed some difficulties to the principals of the company.

But as is usual in these matters, there appeared to be a willing associate on hand, and a person by the name of Paul Keats agreed to replace Mr. Linden as company director.

Paul Keats was apparently born in Canberra in 1973, and at the time resided at Dindina Crt, Fraser View QLD.

We wondered of course whether Paul Keats might be related to Matthew Keats, who was also known to be involved in Melbourne University bar related businesses. From their birth dates they could be close brothers - being born only one year and two days apart.

We then wondered whether Paul's parents had perhaps styled his name after Paul Keating - who we believe has also been fondly referred to as ‘keats' - but we dismissed that as just as absurd as suggestions that Andrew Jackson's parents (Marbain Director) had styled his name after the American President.

We remain uncertain as to the identity of the true principals of the company, or the nature of the relationship between Matt Keats and Paul Keats they do seem to share a lot in common.



Stay Tuned.

Wednesday, November 22, 2006

And once more

Either Newell & Lock are lying or someone else is.

It is an offence of strict liability to list a registered office address without gaining the consent of the occupier of that office.


If what Newell & Lock are saying is true – we have a situation that has gone way beyond an isolated case of sloppy paperwork.

So who were the company secretaries listed for these companies at the time?

Zoes’s Emporium – Andrew Landeryou
Arrowhead Media – unknown – Matt Mason says his signature was forged
Aussie Gourmet Bites – Matthew Keats
Australian Halal Poultry - Erkan Sakaci
Optima Property Development group - Andrew Rigby
Lush Bar Australia ( a very interesting company) – Paul Keats

Stay Tuned.

Tuesday, November 21, 2006

Tuesday teaser.

We have a quick condundrum to share.

We now know that Whities Pty Ltd, the current operators of the bar at Melbourne University, didn't take ownership of that business until July 31 2003 (and deep dish etc much later).

According to the Age (April 12, 2005), Mr Knuauer - a witness in the Liquidators examination, testified that Andrew Landeryou transferred nearly $1 million dollars to a Hongkong nominee company in two tranches in June 2003.

It has left us a little confused about who paid Marbain, when it was paid and what it was paid for.

We're sure there is a simple explanation and we'd be happy to hear it.

As an aside, Whities Pty Ltd was deregistred by ASIC earlier this year - although they still seem to be operating and are registered as holding the liquor license.

Stay Tuned.

Friday, November 17, 2006

In search of a registered Office.

Similar to Time Development, (see below), Newel Lock & Co. have also written to ASIC advising them that they had never consented to a company called Halal Poultry using their office as the company’s registered address.


Dean Sherriff has claimed that he was General Manager of Halal Poultry – a company that was registered in early 2003 by Arrowhead Media Sales. Arrowhead’s phone numbe (?), is listed under the contact details.


The sole director of the company was a person by the name of Erkan Sakaci - who was also a shareholder in the company.

The other shareholder of the company was Clinton Carey who’s address at the time was listed as 114 Park Drive Parkville - along with Andrew Landeryou. Carey was a director of IQ Media as well as being involved in several other enterprises with Landeryou.

While the registered address of the company was listed as 2 Jackson St Toorak, its principal place of business was listed as 132 Maffra St. Coolaroo.


Stay Tuned.

Thursday, November 16, 2006

BV Sachsen

And so it goes with others who became, perhaps unwittingly, involved in companies associated with the collapse of the MUSU.

In this instance, Miles Clemens gave evidence that his signature had also been forged on company documents.

According to newspaper accounts of the Liquidators examination:

“A Melbourne man testified yesterday that a signature on a contract giving tens of thousands of dollars a year to a company secretly run by a former president of the Melbourne University Student Union is a forgery.

In the Victorian Supreme Court, lawyers for the liquidator winding up MUSU examined a contract for services to the union by a company called the BV Sachsen Group Australia Pty Ltd. BV Sachsen was set up by Darren Kenneth Ray, MUSU president in 2002, who used the name Marcus Kemp to mask his identity and win lucrative business deals from the union.

In 2003, new union president Scott Crawford signed an agreement that substantially increased payments to the company.
Ray and Crawford are still students at the university.

The new deal gave Ray's company up to $30,000 more a year on the contract, initially listed at $43,000 a year, for three years.

The document was purportedly witnessed by Miles Clemens, who had been hired by Ray, alias, Marcus Kemp, to work for BV Sachsen.

Mr. Clemens told Garry Bigmore, QC, for the union's liquidator, that the signature was not his.

"I have never witnessed a signature between BV Sachsen and MUSU," Mr. Clemens said"

With the usual list ( Andrew Landeryou, Ben Cass and Darren Ray) in attendance at various creditor meetings, BV Sachsen was of course placed into liquidation late last year - allegedly owing Darren Ray $55,000 and owing the NAB $257.80.

Stay Tuned.