Gerald Smith, of Steephill, on St Saviour’s Hill, is accused of defrauding shareholders in a failed technology company called Izodia by illegally transferring more than £7.8m out of one of its accounts.
Smith was a director of a Jersey-based investment company, Orb Estates, which was Izodia’s largest shareholder between August 2002 and June 2003.
He faces five charges – two of conspiring to defraud and one each of theft, false accounting and using false documentation.
An Orb employee, Jarlath Vahey, faces two charges of conspiracy to defraud and one of theft.
