Crooked lawyer walks free

Lazy prosecutors

INVESTORS waiting for money six years after a solicitors mortgage scheme went bust with $38.8 million of their funds say a sentence handed out to the company's principal is manifestly inadequate. Paul Anthony Triscott, a former Queensland solicitor who was struck off the solicitors' roll in 2002, pleaded guilty in the District Court this week to six counts of dishonestly causing detriment to investors and was sentenced to two years' jail, wholly suspended.

Triscott was originally investigated by the Australian Investment and Securities Commission over 48 loans involving $38.8 million, but outside court this week an ASIC spokeswoman said they had prosecuted him over only one that caused $184,000 detriment to investors based on the evidence available and the need to prove the case to a criminal standard.

ASIC's decision has angered consumer advocates and investors, many who are still owed tens and even hundreds of thousands of dollars. Consumer advocate Denise Brailey, who represented the investors, said while she was happy ASIC did pursue Triscott criminally, she didn't accept "this was the only project that they could have taken action on".

She said ASIC's decision to pursue only one loan meant the judge was unable to sentence Triscott in line with the true pain he had caused.

Ernie Robins, who lost about $150,000 in the scheme and is still waiting to see the money, said ASIC's decision was "a farce". Mr Robins, who turns 77 next week, said he had only invested in the scheme after ensuring the valuers and solicitor involved were registered and above board.

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