A statement from ASIC outlines it will not be asking the Commonwealth Director of Public Prosecutions to consider bringing any proceedings. It added that although ASIC does not ordinarily comment on operational matters, it is making this statement to keep the public record up to date.

The investigation had centred on deceased stock broker Rene Rivkin, prominent businessman Trevor Kennedy and former federal minister Graham Richardson after a probe found the trio were the secret owners of the 38 per cent controlling stake in the company when it mysteriously burnt down sending the share prices skyrocketing.

At the time of the fire Offset Alpine’s ageing presses were worth about $3m, but following Rivkin’s secret purchase the company had been insured by Rodney Adler’s FAI Group for $53m, including a replacement value on the presses of $42m.

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