Businessman and Chief Executive Officer (CEO) of the failed Capital Bank International (CapBank), Finton De Bourg will have to answer criminal charges of engaging in fraudulent activities with the finances of the bank at the High Court.
De Bourg who was committed to stand trial by Chief Magistrate, Her Honour Tamara Gill one year ago, filed a claim against the Director of Public Prosecutions (DPP) Christopher Nelson and the Chief Magistrate seeking judicial review.
In that claim, the city businessman sought a declaration to quash the decision of Magistrate Gill committing him to stand trial.
The matter was argued on May 18 at High Court Number Three before Justice Vicki-Ann Ellis and the decision went against De Bourg.
The judgement was delivered on August 23 denying the claim, thus clearing the way for the Office of the DPP to proceed with the criminal charges against the CapBank official.
De Bourg’s matter is among one hundred cases that are on the cause list for the October sitting of the Criminal Assizes that commenced on Tuesday.
He has to answer six charges that include four counts of falsification of minutes, and two counts of fraudulent appropriation of property by a Director. Those charges were laid on De Bourg in March 2009.
A Roman Catholic Priest, Fr. Sean Doggett, security officer, Arthur Nedd, and farmer, Abraham Pascal who together had savings of just over $400,000.00 in CapBank suffered immensely as a result of the loss of their funds.
Meanwhile, City Barrister, Reynold Benjamin who was also committed to stand trial on charges of two counts of fraudulent breach of trust amounting to $845,000.00, and sought judicial review will appear in court on October 17 for the hearing of his application.
Benjamin who served as the attorney for CapBank was charged in May 2008 by the Financial Intelligence Unit (FIU) for the offences.
The attorney was placed on bail in the sum of $50,000.00.