Trial hears from expert witness

Michel, who ran accountancy practice Michel and Co, and his assistant are accused of laundering money for clients, and helping them hide their assets through a complex web of accounts. The pair face nine money laundering counts under the Proceeds of Crime (Jersey) Law. Michel is accused of distributing £5.6m in cash to 53 clients, and using pool accounts to disguise where their money was coming from. Expert witness Siobhan James gave evidence yesterday, and was cross-examined by Michel’s lawyer, Advocate David Le Quesne, in the afternoon. She was asked questions about why people set up trusts, the advantages of doing so, and practice in Jersey during the 80s and 90s. ‘We are not criminal over here in what we do. It is a legitimate business,’ she said. ‘Our industry relies on being vigilant and acting within the law, otherwise we would not have an industry.’ Mrs James, who works for Ernst and Young, said that financial service providers were more vigilant now in looking for signs of tax evasion and money laundering than they were ten years ago.