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After two years of delays due to ill health, former Access Brokerage boss Peter Marshall was yesterday ruled fit to stand trial on fraud charges, paving the way for a hearing that may lift the lid on the discount broking firm's $3.9 million collapse in 2004.
Wellington District Court Judge Ian Mill yesterday dismissed a defence application for the proceedings to be permanently stayed because of Marshall's ill health.
Marshall, 61, of Silverstream, Upper Hutt, was responsible for Access Brokerage when it collapsed, owing $3.9 million to clients in September 2004.
He faces 14 Serious Fraud Office charges of false accounting and making false statements, but he suffered a series of strokes and proceedings in the case have been repeatedly delayed.
His trial has been set down for three weeks, starting on March 31. A hearing will be held on February 12 to make arrangements to accommodate Marshall's condition.
Judge Mill said that while Marshall's abilities may be impaired, that could be accommodated by the court. Though his capabilities had declined, objectively they still appeared to be at a level sufficient to understand and respond to what was going on around him.
Both the defence and prosecution agreed Marshall understood the nature of the charges against him and the court proceedings.
In the witness statements which form part of the SFO's evidence, former Access employees said there were signs of a shortfall in investor funds for years before the discount stockbroker was wound up.
Access's owner, former NZ Olympic team boss Bill Garlick, has said he only became aware of the problems in September 2004, when he took over from the ailing Marshall.
