Sydney Morning Herald – Trio Capital has been unable to give administrators detailed information about almost $118 million that its managed investment scheme placed through a British Virgin Islands company.
The Albury-based company’s Astarra Strategic Fund made its investments through Astarra Asset Management Pty Ltd as investment manager and then through EMA International, which is registered in the British Virgin Islands.
”The majority of the assets were repatriated ultimately to overseas hedge funds,” Neil Singleton, an executive with the administrator PPB, said last week.
