Day three of Porritt, Bennet trial focuses on fraudulent investment scheme
THE fraud, theft and racketeering trial of Gary Porritt and Sue Bennet entered its third day on Wednesday, with the prosecution painstakingly admitting some of the documents that will make up the many volumes to be used as evidence against the former directors of now defunct JSE-listed financial services company Tigon.Porritt and Bennet face more than 3,000 counts of fraud, theft and racketeering. The trial, supposed to begin in 2006, only got under way in earnest this week after years of delays and intervening litigation and is expected to run for many months.This week’s portion of the trial is focused on counts 99 to 3,067, which deal with what the state claims was a fraudulent investment scheme involving PSC Guaranteed Growth. When this company collapsed almost 3,000 investors lost more than R162m.The indictment accuses Porritt and Bennett of drafting the company’s prospectus to "falsely and deliberately deceive investors", saying it contained a number of material misrepresentati...
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