Jan 19 - “Ponzi Scheme” Trial Continues
The three men accused of setting up a Ponzi scheme were described as “trustworthy” and “outstanding” men, on the second day of a trial held at the Supreme Court.
Giving evidence in court, a former colleague said Lance Mauro, Damian Mauro (who has now retired from the Regiment) and Aaron Smith earned their medals and achievements through sheer hard work, and said their co-defendant, Lizette Cornelio, was a “fantastic lady and the type of person who wouldn’t harm a fly”.
All four defendants are currently on trial for an alleged Ponzi scheme where they are said to have scammed friends and family out of money over a period of seven years. They have all pleaded not guilty to one count each of conspiracy to defraud.
The Crown heard the witness got involved after being approached by Cornelio on a number of occasions to invest money in “La Bola”.
He handed over £125, as opposed to the initial £250 he was asked for, but told Cornelio he wasn’t able to ask others to join with him. He said he perceived this as a gamble or a bet he had simply lost out on.
Chris Miles, who appeared for Lance and Damian Mauro, questioned whether the witness was aware of what was happening among his lower ranks and he said he wasn’t aware of anyone else’s involvement in this.
The empanelled jury heard from another witness, a police officer, who invested £500 in what he thought was a small company, before he started working in the Royal Gibraltar Police.
He said he was approached to invest at his grandmother’s birthday party, and after having paid £500 to Cornelio, he didn’t hear back from her on his returns.
While giving evidence, he said he called Cornelio on a number of occasions to ask for his money, but was never given a proper response. He only realised the scheme was being investigated after Cornelio showed up at New Mole House Police Station in June 2013, and he was asked about his involvement in the case.
The trial, which is presided over by Puisne Judge Adrian Jack, continues tomorrow.
Francis Borastero-Porter appears for Cornelio, Mr Miles appears for Lance and Damian Mauro, and Smith is being represented by Patrick Canessa. Robert Fischel QC appears for the Crown, assisted by Carl Ramagge.
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