The founder and managing director of defunct Jersey-based IFA firm Lumiere Wealth, Christopher Byrne, has appeared in court for the fourth time and been granted bail. Byrne, aged 48, faces four charges relating to alleged actions he took during his dealings with clients and regulators. Lumiere Wealth was ordered to be wound up by the Royal Court of Jersey on 4 October 2016.

The IFA firm was majority owned by Guernsey-based Providence Global and promoted the Providence Investment Funds PCC, which offered investors returns of up to 14% from a Brazilian financial operation.

During the hearing at Jersey’s Royal Court on Monday, 16 January, Byrne, spoke only to confirm his name, age and address, according to a report in yesterday’s Jersey Evening Post.

The case has been adjourned for a further four weeks.

He is accused of defrauding a 77-year-old woman out of £1m ($1.23m, €1.15m), and is also charged with taking actions that allegedly led to a woman in her 60s to lose £200,000 in savings.

Under this latter charge, he is accused of

• ‘making a statement, promise or forecast which he knew to be misleading, false or deceptive, or dishonestly concealing material facts to induce the woman to invest £200,000 to her prejudice, contrary to Article 2 (c) of the Investors (Prevention of Fraud) (Jersey) Law 1967.

Under the third charge, he is accused of

• knowingly or recklessly providing the Jersey Financial Services Commission with information which was false or misleading, contrary to Article 28(1) (b) of the Financial Services (Jersey) Law 1998.

The fourth charge is that on

• 17 June following the service of a forthwith notice by the Commission; he failed to provide the commission with information or documents specified in the notice, contrary to Article 32 of the Financial Services (Jersey) Law 1998.