A man charged with defrauding three people of some €30,000 in April 2007 was today acquitted of the charges after a court decided he had been loaned the money so no fraud was committed.

Noel Mifsud was accused of defrauding Jonathan Fenech, Donatella Fenech Manche and Alfred Fenech.

They argued they had given Mr Mifsud the money on behalf of MWJ Co Ltd for investment purposes.

But Magistrate Audrey Demicoli accepted the argument of the defence that the money had been loaned and pointed out that this was a civil and not a criminal matter.

Inspector Jonathan Ferris prosecuted. Lawyers Franco Debono and Marion Camilleri appeared for Mr Mifsud.

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