£12.9m fraud accused ‘only one with any knowledge’

A man accused of a £12.9 million fraud was the “sole conduit” between investors and the scheme used to commit the alleged crimes, a court has heard.

Jonathan Knowles, 41, told jurors Alistair Greig, 66, was the only one who had knowledge about short-term deposit accounts with the Royal Bank of Scotland.

Prosecutors claim the accounts didn’t exist and were the means Greig used to commit fraud.

The High Court in Edinburgh heard Mr Knowles worked for Greig’s company Midas Financial Solutions (Scotland) Ltd as a mortgage advisor between 2006 and 2012.

He said that during his time at the firm, Greig was his boss and he announced that investors could access the short-term accounts.

Mr Knowles, of Aberdeen, said there were no brochures or other documents available that detailed the scheme and only Greig knew about it.

He was giving evidence on the fourth day of proceedings against Greig, of Boston, Lincolnshire.

Greig, denies three charges relating to fraud and breaching financial and proceeds of crime laws, said to have been carried out between August 30 2001 and October 14 2014.

The trial continues.