THE extradition of a man wanted in connection with a Pounds 21 million stock market fraud has been deferred pending assurances from British authorities that he will not face further charges. Mr Kelvin Myles (38), of Staleen, Donore, Co Meath, is accused of conspiracy to defraud between July 1989 and March 1990 in relation to the flotation of Richmond Oil and Gas.
Judge Con O'Leary said he wanted to hear testimony from the lawyer heading the inquiry by the British Serious Fraud Office that Mr Myles would be tried only on evidence currently before the court.
Mr Myles, formerly of Byrant and Company underwriters, is accused of using 13 different companies based in the Channel Islands, Portugal, Switzerland and the Isle of Man to create a false market in shares. He and four other men in England face charges in relation to the sale of 20 million shares in the American-based company while falsely claiming that Pounds 15 million worth had been underwritten.
Judge O'Leary refused submissions by defence solicitor, Mr Michael Staines, that there had been to long a delay in issuing the extradition warrants. He also ruled that the conspiracy charge did correspond with Irish law.
He adjourned the case until tomorrow to fix a date to hear testimony from the Serious Fraud Squad lawyer in charge of the matter.