WA: Bell laden with cash before Bond involvement, court told

AAP General News (Australia)
08-06-2004
WA: Bell laden with cash before Bond involvement, court told

The former day-to-day boss of Bell Resources has told a jury the company was laden
with cash before becoming involved with ALAN BOND'S ailing corporation.

It's alleged Bell Resources was stripped of $1.2 billion in Australia's biggest corporate fraud.

ALAN NEWMAN, the chief general manager of Bell Resources in the late 1980s, today began
testifying at the West Australian Supreme Court trial of TONY OATES, a former trusted
lieutenant of BOND.

OATES is accused of being at the heart of the plan to siphon away hundreds of millions
of dollars from Bell. He faces eight charges, which he's denied.

Mr NEWMAN, now a director of the Futuris Corporation, has told the court that after
the 1987 stock market crash, The Bell Group, owned by ROBERT HOLMES A COURT, had between
$500 million and $1 billion in cash deposits at any one time.

The trial continues.

AAP RTV hn/dl/rp

KEYWORD: OATES (PERTH)

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