The Rev Bill Matthews, the former vicar of Gouray church, told the Royal Court on Friday that he lost the money after investing in Benessia Global Ltd, a company set up by John Lewis and Magistrate-designate Ian Christmas with a third man, Christopher Webb.
In a letter from Mr Matthews to Mr Lewis in August 2008, which was read out to the court, he spoke of the ‘distressing experience’ of losing his modest retirement assets.
Mr Lewis, who faces 17 fraud-related charges, and Mr Christmas, who faces four, deny conspiring to induce or fraudulently inducing investments from Islanders between 2004 and 2008.
They are on trial along with Russell Foot and James Cameron, who were not involved with Benessia, and deny all fraud-related charges against them.
• Full report in today’s JEP
