High Court Judge, Justice Paul Madigan will sum up former Prime Minister, Mahendra Chaudhry’s case this morning before the four assessors retire behind closed doors to deliberate on their opinion.
Justice Madigan will also reveal later today on whether he will deliver his verdict later today after the assessors’ opinions are known.
Stay with us for that.
As the closing submissions were made yesterday, Chaudhry’s lawyer said that Chaudhry admits that he has had 1.5 million Australian dollars in overseas accounts over the last 14 years however he stresses that he has not breached the Exchange Control Act.
Queens Counsel Peter Bodor said Chaudhry had revealed the details of the money kept in the overseas accounts in 2006.
He said three years after the declaration, the Reserve Bank of Fiji solicitors started making allegations against Chaudhry.
Bodor questions how Chaudhry became the Minister for Finance in 2007 if he had breached the Exchange Control Act.
Chaudhry’s lawyer says this is not a case of corruption or improper payments.
Bodor said the money was collected by the people of India to assist Chaudhry after the political upheaval in 2000.
He stresses that the money was a particular beneficial gift to assist Chaudhry and his family to establish residence in Australia.
Bodor said the money never passed Fiji and it is not a secret that the 1.5 million Australian dollars has remained in bank accounts in Australia.
In his closing submission, prosecution Queens Counsel Clive Grossman said that Chaudhry has 1.5 million Australian dollars in overseas bank accounts and kept it for his own use and benefit.
Grossman said Chaudhry was a former Finance Minister and he kept the money for his own benefit without consent.
Grossman said that he did not have to be told what to do.
He also said that Chaudhry continued to commit an offence.
Grossman said that the prosecution has proven every element of the charge by way of agreed facts and their witness, Subrina Hanif.
Grossman made reference to the evidence given by the Reserve Bank of Fiji Board Secretary, Subrina Hanif who had informed the court that one needs to write to RBF and seek approval to open overseas bank accounts.
Chaudhry is facing three counts of breaching the Exchange Control Act.
The maximum sentence for the charge is two years imprisonment.
The first count against Chaudhry is in relation to failure to surrender foreign currency, where it is alleged that Mahendra Chaudhry between November 2000 and July 2010 retained the sum of 1.5 million Australian dollars for his own benefit without the consent of the Governor of the Reserve Bank of Fiji.
The second count is in relation to dealing in foreign currency without permission.
The third count relates to Chaudhry having the right to receive a sum of $1.5 million Australian dollars from the financial institutions in Australia and New Zealand, caused the delay of payment of the sum, in whole or in part, to himself by authorizing the continual investment of the sum together with interest acquired back into financial institutions without the permission of the Governor of the Reserve Bank of Fiji.
Story by: Vijay Narayan & Praneeta Prakash
