The Royal Court of Jersey has confirmed to the International Adviser that Byrne’s six week trial will begin on 13 August 2018 where he will stand accused of 19-related fraud charges.
Byrne was managing director of Lumiere Wealth which was ordered to be wound up in October 2016 following a Royal Court Hearing.
Providence link
Out of the 19 charges Byrne faces, 14 are connected to previous dealings with clients and Guernsey-based Providence Global, which collapsed in August 2016.
Providence was wound up by order of the Royal Court of Guernsey following an application from the Guernsey Financial Services Commission (GFSC) after all of the directors of two Providence subsidiaries quit over two days.
Lumiere Wealth was majority owned by Providence Global and promoted the Providence Investment Funds PCC, which offered investors returns of up to 14% from a Brazilian financial operation.
Multiple charges
Byrne first appeared in court in October 2016 when he was charged with falsely obtaining money from a pensioner. He was accused of making a statement, promise, or forecast that he knew to be misleading, false or dishonest in order to persuade a woman in her 60s to invest £200,000 (€226,696, $269,722).
He is also accused of defrauding a 77-year-old widow by tricking her into signing a document that turned out be an unsecured personal loan agreement for £1m.
Byrne was initially denied bail as he was deemed a flight risk, but it was later granted although he was not permitted to leave the island.
However, Jersey’s lower court approved an application from Byrne in June to travel to his native Ireland for a holiday and to attend his father’s 80th birthday.
In June 2017, a further 10 charges were made against Byrne relating to advice that he gave clients while at the helm of Lumiere Wealth.
