Offset Alpine fire

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The Offset Alpine fire is an incident in Australia's recent history that is still subject to investigation and speculation, amid suspicions that the printing plant was burnt down as part of an insurance fraud. It has gained attention because of the high profile of individuals involved.

In 1992 a company controlled by colourful businessman Rene Rivkin bought the Offset Alpine printing firm from media magnate and then Australia's richest man Kerry Packer for A$15.3 million and floated it on the stock exchange. On Christmas Eve, 1993, the firm's sole asset, the printing plant, was destroyed by fire. It had been insured at replacement value (A$53.2 million), more than three times its purchase price, and the share price skyrocketed. The fire was blamed on a staff barbecue, but suspicions of arson have persisted.

Known investors included:

Rene Rivkin
Former Labor powerbroker and Packer associate, Graham Richardson
Businessman and former Packer executive, Trevor Kennedy
Entrepreneur Rodney Adler (since jailed for unrelated corporate crimes)
Businessman Sean Howard, one of the founders of internet company OzEmail
Former Labor leader and Governor-General, Bill Hayden
Television personality Ray Martin (who appears on the Packers' Nine Network)

The Australian Securities and Investment Commission (ASIC) commenced an investigation into the ownership of a 38% stake in the company via secret Swiss bank accounts. Rivkin denied any knowledge at the time, but in 2003 ASIC discovered that he himself, in partnership with Richardson and Kennedy, had been using Swiss bank accounts to trade in Offset Alpine and other companies. Rivkin committed suicide in 2005, before the investigation was completed, after being jailed on an unrelated insider trading matter.

In January 2006 after a two year legal battle, ASIC gained access to the relevant Swiss banking records. In September 2006 it was revealed that Richardson had almost $1.5 million in Swiss accounts which he had failed to declare to the Australian Tax Office ^[1].

Lingering suspicions have also linked the case to the 1995 death of Caroline Byrne, girlfriend of Rivkin's chauffeur, Gordon Wood, who in 2006 was charged with her murder ^[2].