The trial of former Prime Minister Mahendra Chaudhry is now underway after the opening submission presented in the High Court by prosecution Queens Counsel Clive Grossman.
Grossman told the assessors that charges against Chaudhry come under the Exchange Control Act.
He said that in summary, Chaudhry had money in Australia and he was bound by law to bring it back but he lent it to various banks there.
Chaudhry was asked by Presiding Judge Justice Paul Madigan to stand up this morning and the three charges were read to him.
Chaudhry pleaded not guilty to all the charges.
Meanwhile, the first prosecution witness took the stand in the last hour.
Reserve Bank of Fiji board secretary Subrina Hanif said in court that Mahendra Chaudhry had not written to the Reserve Bank of Fiji to seek an approval to open a bank account overseas.
QC Grossman asked Hanif to explain what a Fiji resident should do if they want to open an overseas bank account.
Hanif said that they need to write to RBF and seek an approval.
Hanif said in this case, Chaudhry did not write to them for approval.
Chaudhry is charged with three counts of breach of the Exchange Control Act.
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 AUS$1.5 million 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 AUS$1.5 million 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.
Chaudhry’s lawyer Peter Bodor has just made a written submission for no case to answer against his client.
The case will continue before Justice Madigan later this afternoon.
Story by: Vijay Narayan & Praneeta Prakash
Mahendra Chaudhry trial now underway
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