12/02/2013 00:00
TW
0

Palma.—Former Majorca resident John Hirst, who stands accused of conspiracy to defraud expatriate investors here on the island, in France and the United States over a multi-million pound scheme, is to stand trial in June.

John Neil Hirst, who also faces money-laundering allegations, was charged last year following a 15-month investigation by the Serious Fraud Office (SFO).

Last month, members from the SFO travelled to Palma to question Majorcan victims of the alleged fraud scam.
Hirst, 60, and 69-year-old former Majorcan resident Richard Pollett, from Poole, Dorset, are alleged to have defrauded investors by dishonestly representing that their money would be guaranteed and secured and invested on the Dow Jones Index futures market.

The defendants are also alleged to have dishonestly represented that the investments would achieve a minimum return of 1.5% per month, equating to 18% per annum, with a bonus of 2% if invested for a year.

The conspiracy charge covers a period between December 2001 and December 2009 and the pair also face a further allegation of making misleading statements over the same period.

Hirst and Pollett denied both charges when they appeared before Judge Jonathan Durham Hall QC at Bradford Crown Court.
Hirst also pleaded not guilty to allegations of money-laundering relating to the transfer of £33'000 from the Bank of Cyprus account of Gilher Inc and an £428'000 investment in Last Second Tickets Limited.

Hirst's wife Linda, 62, pleaded not guilty to various money-laundering charges including one relating to the purchase of a £552'000 house with her daughter Zoe Waite, 36, in 2008. Waite also denies the money-laundering allegation.

Daniel James Hirst, 35, pleaded not guilty to three money-laundering charges.
The SFO investigation was conducted with the assistance of West Yorkshire Police and a number of overseas authorities.
It is understood that more than £10 million pounds was obtained from investors. The losses are believed to be around £6 million.