Money adviser on £50k fraud charge bailed
A financial adviser has appeared in court accused of a £50,000 scam.
Dennis Light, from the Ballybarnes Road in Newtownards, is accused of defrauding a man by claiming in late 2008 that he would invest £50,000 for him, but instead keeping the money for himself.
Light confirmed he understood the single charge against him.
None of the facts were opened at Newtownards Magistrates' Court yesterday, but a prosecuting lawyer said there was a case to answer.
The court clerk told 70-year-old Light he had the right to comment on the charge or give evidence, but he declined.
Applying for Legal Aid, Mr Hindley, defending, said that while his client owned five properties and the matrimonial home, "if they were sold he would be in negative equity". He added that while he still worked, his main income was the State pension.
District Judge Mark Hamill said he would grant legal aid for one counsel based on the seriousness of the charges.
Freeing Light on his own bail of £500, he ordered the pensioner to appear at Downpatrick Crown Court on June 13 for arraignment.