AUSTRALIAN BUSINESSMAN LOSES APPEAL OVER NAURU FRAUD

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MELBOURNE, Australia (June 27, 2002 – Radio Australia)---A Melbourne businessman, who was jailed for ten years for conspiring to defraud the Pacific nation of Nauru, has lost an appeal against his conviction and sentence.

John Richard Walsh was sentenced in the Victoria Supreme Court two years ago, over his involvement in a scheme in which the government of Nauru was duped into investing over A$ 100 million (US$ 56,000,000).

Of the total, A$ 20 million (US$ 11,200,000) was never recovered.

In dismissing Walsh's application, the Victorian Court of Appeal said the offences were very serious, not some fly-by-night scheme where the victim was duped for a few days.

For additional reports from Radio Australia, go to PACIFIC ISLANDS REPORT News/Information Links: Radio/TV News/Radio Australia.

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