A 44-year-old lawyer and former investments businessman from St Paul’s Bay is pleading not guilty to defrauding two men of more than €230,000.

Testifying in court this morning, Patrick Spiteri, then managing director of Zimmerman House Group in Ta’ Xbiex, said that two men, Josie Theuma and Mario Abela, had wanted to take part in a joint venture with him by representing an international exchange bureau in Malta and they invested capital to get it going.

At the time, he said, he did not even know how to switch on a computer so he left all the computer work up to his secretary.

Zimmerman, whose majority of clients were foreigners seeking tax breaks in Malta, would offer clients, legal, investment and tax advice.

In a previous sitting, Mr Theuma had said that in 2000 he had invested €95,530 through Dr Spiteri and took his case to court in 2003 because he was still owed €59,892 of the invested money.

He told the court that he was offered an attractive investment opportunity by Dr Spiteri with Lehman Brothers and decided to involve his friend Mario Abela who also invested €142,130. Mr Theuma was told that would yield an interest of 18 per cent.

Mr Abela was only given €34,029 out of the €142,130 he invested.

The case continues.

Lawyer Chris Cardona appeared for Dr Spiteri.