Lerala boss' trial kicks off in Australia :: Mmegi Online

The trial of Alex Alexander, the principal player in the Lerala Diamond Mine saga, has kicked off in Sydney, Australia, with testimony from the main witness in a case in which the diamantaire faces 20 years in jail for deceiving investors.

Russian-born Alexander, the sole director of the company which owned Lerala Diamond Mine, faces four counts of “issuing false and misleading statements to investors”. The charges relate to his dealings regarding Ellendale Diamond Mine, which at the time of the alleged offence was owned by Kimberly Diamonds, majority owned by Alexander. The four counts carry maximum sentences of five years in jail each and/or a fine of P252,000 each.

Australian Securities and Investments Commission national manager – media, Gervase Greene told BusinessWeek on Wednesday that the matter, which dates back to Alexander’s dramatic 2015 arrest at Sydney airport, had restarted.

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