Ward files 'disappeared'
Tuesday 19 January 1993
The payment was made to Marketing and Acquisitions Consultants (MAC), a company controlled by Mr Ward. It followed Guinness's successful takeover bid for Distillers in 1986, when Mr Ward, an American lawyer, was a principal adviser to Ernest Saunders, the former chief executive of Guinness.
Mr Ward is charged with the theft of pounds 5.2m from Guinness, false accounting and dishonestly procuring the execution of a valuable security by deception.
He insists that the payment was a legitimate success fee for the advice given over bid negotiations.
Yesterday the court at the Old Bailey heard that Europlan, a company administrator in Jersey used by Mr Ward, discovered in April 1988 that its confidential MAC files were incomplete after a court order forced it to reveal their contents.
'One or two documents which I expected to be in the files I could no longer find,' said Michael Dee, managing director of Europlan.
The missing file notes related both to Mr Ward's original instructions for drawing up the pounds 5.2m invoice, and to the transfer of pounds 3m of that sum into a Swiss bank account belonging to Ernest Saunders.
The prosecution alleges that Mr Saunders and Mr Ward had embarked on a dishonest joint enterprise. Yesterday Mr Dee told the court he understood the pounds 5.2m was to pay Mr Ward and other parties.
Mr Dee said that as far as he was aware the files were intact until William Dwyer, Mr Ward's legal representative, inspected them in December 1987. Mr Dwyer had been left alone with the files for 'an hour or two'.
The trial continues today.
elephant appealThe first 23 lots in our charity auction have now gone. But there are 22 more still up for grabs
Dennis Rodman will coach the North Korea basketball team - and is preparing a special birthday treat for 'friend for life' Kim Jong-un
Jennifer Lawrence attacks mass media again over body image
Jennifer Lawrence: 'It should be illegal to call someone fat on TV'
Ian Watkins: Police probed over earlier allegations as paedophile Lostprophets singer sentenced to 35 years for child sex offences
Iain Duncan Smith leaves Commons food banks debate early
DNA from a 50,000 year old toe shows Neanderthals were highly inbred
Devyani Khobragade: India-US row escalates over arrest of diplomat in New York
- 1 America's 'virgin births'? One in 200 mothers 'became pregnant without having sex'
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 3 Christmas comes early: Justin Bieber is 'retiring from music'
- 4 Iain Duncan Smith leaves Commons food banks debate early
- 5 Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
- < Previous
- Next >
iJobs Money & Business
£500 - £550 per day: Cornwallis Elt : Business Analyst Target Operating Mod...
£500 - £680 per day: Harrington Starr: Murex Business Analyst - 1000 CHF per d...
£60000 - £75000 per annum + Bonus and Benefits: Harrington Starr: A leading au...
£25000 - £32000 per annum: Harrington Starr: Junior Business Analyst - Banking...