Two accused of multiple sclerosis research fraud; NEWS IN BRIEF.
The money is said to have been paid out by investors to develop a drug to fight the disease and also for a Welsh film production.
But much of it is alleged to have been siphoned off in payments to Alun Weeks, 62, of Heol Don, Whitchurch, his accountant friend from Gwent and others.
In a trial at Cardiff Crown Court, Weeks and chartered accountant Paul Dallimore, 61, of Wentwood View, Caldicot, deny two charges of conspiracy to commit fraud. A third man has admitted the same charges.
Prosecutor Roger Thomas told a jury that that person's guilty plea proved a conspiracy had existed and the question they had to answer was whether the two men in the dock were part of it.
Opening his case, Mr Thomas said Canadian film-maker Douglas Thompson had wanted to make a film in Wales as a tribute to his Welsh mother.
The project eventually collapsed, with investors left "wondering what happened to their money".
Yesterday the court heard allegations that the film project was followed by investment opportunities being offered in a company called Daval International, whose founder was hoping to further his development of a multiple sclerosis drug.
Mr Thomas told the jury: "Any money raised was not to go straight to Daval but through Global Microcap, where Weeks was the company secretary and Dallimore, the director."
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|Publication:||South Wales Echo (Cardiff, Wales)|
|Date:||Apr 25, 2012|
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