Three elect trial by jury

Press, 14 December 1985, Page 5

Three elect trial by jury

PA Wellington Three men facing 37 charges involving allegedly bogus foreign exchange transactions of more than $lOO million did not gain one cent, defence counsel • told the District Court at Wellington yesterday. Mr David Collins told Judge Rabone that although the figures in the charges were ’’financially astronomical they (the accused) did not gain one cent.” The charges arose from financial losses suffered by Broadbank Corporation, Lto, last June and July, he said.

Bruce Lindsay Pemberton, aged 33, a hunter, and lan Richard Morris, aged 25, unemployed, appeared together with a third man whose name has been sup-

pressed until December 16, at 4 p.m. Pemberton, represented by Mr Bruce Davidson, elected trial by jury on 30 charges — 28 of false accounting and two of drawing documents. Morris, represented by Mr lan Gordon, elected trial by jury on six charges of false accounting. The third man, represented by Mr Collins, elected trial by jury on one charge of false accounting. The charges allege bogus foreign exchange transactions involving the buying and selling of more than $lOO million when, in fact, the deals never occurred. All of the accused were remanded at large to January 31, when it is hoped, according to Mr Collins, that a date will be set for a depositions hearing, expected to last two weeks. Their appearances in

court on that date were excused. Mr Collins said that an application would be made for the depositions to be heard before a District Court judge rather than two Justices of the Peace. Mr Davidson, on behalf of Pemberton, said that there would be no application for supression of his client’s name, in deference to other members of the industry in which he had been previously employed. Mr Gordon, on behalf of Morris, did not seek continued interim suppression for his client, which had been granted last Friday. Mr Collins, in seeking interim suppression for his client, said that he faced only one charge (a joint charge) involving the alleged sale of $4l million on July 9.

Mr Collins, who put written submissions before the

Court in support of his application, said that a substantial number of defences were available to the charges. Irreparable damage and harm would be caused to his client should his name and particulars be published at this stage. Sergeant Jim McDonnough said he had no comment to make on any of the applications made by counsel.

Judge Rabone said he did not think it was appropriate to make an order suppressing the name of the accused. There had to be some compelling reason to make such an order. It was already public knowledge that the charges in question were before the Court. There would be public

speculation, to the detriment of other employees or former employees, of the Broadbank Corporation if the Court were to grant interim suppression, the Judge said.

Mr Collins then said that his instructions were to pursue the application in the High Court, and he applied for interim suppression of name until 4 p.m. on Monday so that that could be done.

The Judge granted the application for interim suppression of name until then.