An accountant from Jersey, who is now living in Donore, Co Meath, has challenged an order for his extradition to England to answer allegations that he participated in a large-scale fraud.
Mr Kelvin Myles (41), with an address at Staleen, Donore, is wanted in relation to allegations concerning the sale of shares in Richmond Oil and Gas in 1989. The British authorities claim they became aware of an alleged fraud in 1992.
It is alleged he conspired with four other persons in "dishonestly concurring in the issue of an offer for sale document which was false and misleading".
It is alleged it had been concealed from the London Stock Exchange and from the market that 13 of the sub-underwriting companies - connected with Mr Myles and the other defendants and controlled by them - had failed to honour their underwriting commitments totalling more than £15 million (€23 mil lion).
In the High Court yesterday, Dr Michael Forde SC, for Mr Myles, claimed his client should not be extradited as there was no corresponding offence in this State. The facts which the English authorities claimed constitute conspiracy to defraud might not correspond with the facts which would constitute such an offence in Ireland.
Dr Forde also claimed that there had been delay in prosecuting the case against Mr Myles.
Mr Anthony Douglas Farries, a solicitor with the British fraud authorities, said in an affidavit the director of the Serious Fraud Office had given him a report from the Jersey attorney general in June 1992. The report was prepared by Price Waterhouse, chartered accountant, into the affairs of a Jersey chartered accountancy firm.
The report had disclosed a number of concerns about the flotation of companies on the London Stock Exchange in the late 1980s.
Mr Farries said that in 1996 a decision was made that there was sufficient evidence to prosecute Mr Myles.
In an affidavit, Mr Myles said his wife was from Drogheda and he had lived openly in this State since he moved from Jersey in 1991. Two individuals of major importance to his defence had died since the alleged offences took place. Because of the delay in bringing the case he believed it would be unjust and oppressive to order his extradition.
The hearing continues today.
