Christopher Paul Byrne (50), the former managing director of Lumiere Wealth, has been in La Moye prison since 13 September after he was found guilty of fraud-related charges which saw local investors lose over £3 million to an international Ponzi scheme.
Commissioner John Saunders apologised to the investors in the Royal Court for the unexpected delay in sentencing but said the court had no choice given the revelations.
The information about the Guernsey informing was revealed during mitigating statements by Advocate Olaf Blakeley about four hours into the hearing.
The court’s public gallery was filled with many of Byrne’s wronged investors for the sentencing.
The disgruntled investors listened to the Commissioner’s explanation for the delay with obvious frustration.
Advocate Blakeley told the court he had only received confirmation of the usefulness of Byrne’s information to Guernsey’s investigation earlier in the day from a Guernsey policeman.
The court will now have to set a new date for the sentencing to proceed after more is learned about Byrne’s assistance to Guernsey.