Vaucrosson: I was authorised to invest Ball's money
money in Amulion Investments, it was claimed yesterday.
Vaucrosson, who is charged with stealing nearly $400,000 from Ball's beneficiaries in 1991 took the stand for the first time yesterday.
He said he was told by Conor Griffin that the authorisation had been obtained.
Griffin was the lawyer handling the Ball estate at the time and dealt directly with the beneficiaries.
Vaucrosson said that Ball's sister Doris Philpott was the one who gave the instructions although he admitted he never got this instruction directly from her.
On February 1, 1991 he said Griffin approached him and asked him about investing the Percy Ball money in Amulion where it would have gained a higher rate of interest.
Vaucrosson said Griffin asked him if he would earn a commission if he bought the money into Amulion which is a firm that the accused is a major shareholder in.
And Vaucrosson said that he told Griffin he would earn a commission.
"I would think that I could invest in Amulion without Philpott's direct say so,'' he explained.
This authority he testified came because he held a power of attorney that entitled him to act for Philpott.
Vaucrosson admitted that he signed some of the cheques that were drawn on the Ball trust account but he could not recall how much they were made out for or to whom they were paid.
Moreover, he said he was aware some of the money was used to pay debts although he agreed that Amulion owed Ball's estate the total amount that was invested.
Vaucrosson said that all transactions were recorded so that it was possible to tell where the money went.
However he was unable to say how the entries were made although he said his accounting staff should be able to account for all of the money.
Vaucrosson denied stealing any of Ball's money although he said he felt personally responsible for any money that is owed.
"I signed the cheques that I signed because they were put in front of me to sign.
"I did not at that time question how the account was being handled.'' But he admitted that the seven cheques which were written for varying amounts from $151,750 to $9,000 were improperly processed and done without his knowledge.
During cross-examination from British Crown Counsel Mr. Michael Pert QC, Vaucrosson admitted that he was "very unimpressed'' with Griffin's evidence because he (Griffin) denied ever saying to the accused that he had permission to put the beneficiaries' money in Amulion.
Mr. Pert then asked why the defence did not attempt to put the "single most vital piece of evidence,'' to Griffin when he gave testimony earlier in the trial.
"I think my counsel dealt with the matter,'' Vaucrosson said.
He denied transgressing Bermudian laws requiring barristers from advising clients to invest in firms they owned unless "full and frank disclosure,'' takes place.
He said he thought Griffin would have done that.
"I did not have to disclose this since I was not dealing with the client.
Conor Griffin should have told them this.
"I had thought that I had hired a competent lawyer and he would have taken all the necessary and appropriate steps. I did not check behind Conor Griffin.'' Vaucrosson, a lawyer, lives on North Shore Road, Pembroke. He is accused of stealing more than $300,000 from the beneficiaries of Ball's trust fund. Ball was a journalist at the Bermuda Broadcasting Company.
Of the nine charges, the first eight relate to Vaucrosson acting for Ball's estate between an unknown time and February 1 and March 1, 1991.
It is alleged that he stole money -- ranging in amounts from $9,000 to $151,750 from the beneficiaries of the estate.
And the ninth charge alleges that he fraudulently disposed of the trust property -- some $393,782.58 -- and committed it to uses other than those authorised by the trust.
Mr. Pert QC is being assisted by Mr. James Candlin. Mr. Frank Phipps, Ms Patricia Harvey and Mr. Michael Scott appear for the defence. Acting Chief Justice Mrs. Justice Wade is presiding.