Delay in gold fraud case

A FRAUD case against a property developer accused of selling $200,000 worth of gold belonging to a Cairns pensioner remains on hold while the court determines the extent of a key witness’ memory loss.

The Cairns District Court trial of Yehuda Peretz, due to start this month, has been delayed because Howard Rees cannot give evidence.

Last week the court heard Mr Rees, 82, cannot give evi- dence during the trial because his memory has significantly deteriorated.

Prosecutor Nicole Friedewald said Mr Rees’ recollections “seem to be deteriorating,” consistent with medical notes taken of his condition.

She requested an adjournment in order to arrange a proper assessment.

The crown’s case against Mr Peretz alleges he conspired with another person, who has fled to Eastern Europe, to take the gold from Howard Rees in 2011. The court heard that the other person, a woman, had been friends with Mr Rees, who had loaned her the gold bars and sovereign to use as collateral to secure a loan.

The gold was then allegedly traded to a gold dealer for $200,000 of which $170,000 was transferred to Peretz.

Judge David Reid adjourned the matter.

“Someone will have to determine the issue whether he is sufferings from insanity,” Judge Reid said.

“The reality is we are unlikely to get to the trial.”