Fullerton Barbara Gayle, Staff Reporter
Nicole Ann Fullerton, the daughter of Henry Fullerton, former head of the failed Caldon Finance Group, was yesterday sentenced to 12 months' imprisonment for defrauding businessman Colin Karjohn of $15 million.
She is appealing against her conviction.
Senior Resident Magistrate Judith Pusey, who convicted Fullerton in November last year, has extended her $6 million bail pending the outcome of her appeal.
Fullerton's relatives wept openly in court after the sentence was handed down.
Fullerton's mother had given character evidence that her daughter would be destroyed if the RM sent her to prison.
Post-traumatic stress disorder
Consultant psychiatrist Dr. Aggrey Irons said Fullerton was suffering from depression as well as post-traumatic stress disorder. He said a prison sentence would lead to personality disintegration.
Fullerton, who was the acting operations manager of the failed Caldon Merchant Bank, was convicted of fraudulent conversion and conspiracy to defraud. She was sentenced to 12 months' imprisonment on each count but the sentences are to run concurrently.
The RM extended Fullerton's bail after conviction and suggested that she consider making restitution as that could lessen the sentence. The judge made it clear that she would go to prison if the money was not paid because of the amount involved.
When Fullerton appeared for sentencing yesterday, the court was informed that she was unable to make restitution.
Attorney-at-law Jacqueline Samuels-Brown, who represented Fullerton, asked the judge not to impose a custodial sentence because there was no evidence that Fullerton had benefited from the fraud.
The RM responded that she had no other choice but to send Fullerton to prison based on the nature of the offence. The RM said she had taken into account the suffering of the complainant.
Fullerton was tried over a one-year period for fraudulent conversion of $10 million, US$113,000 ($7,627,500) and a cheque for US$6,994 ($472,095).
The Crown, represented by Senior Deputy Director of Public Prosecutions Paula Llewellyn, led evidence that in December 1997, Fullerton, who was the cousin of Karjohn's wife, approached him to invest his money in Treasury bills from the Bank of Jamaica.
Attempted to get money
Karjohn gave Fullerton the money to invest in treasury bills on January 2, 1998, and the agreement was that the money would be returned before the end of January 1998. After the date had passed, Karjohn made several attempts to get his money but was unsuccessful.
Evidence was given that instead of purchasing treasury bills, Fullerton invested the money in the merchant bank which was insolvent at the time.
Fullerton said in her defence that she had invested the money which Karjohn gave her. She admitted under cross examination that the merchant bank was not authorised to trade in Treasury bills.
Her father, Henry Fullerton, is charged with breaches of the Financial Institutions Act. The case is now before the Corporate Area Resident Magistrate's Court. The Director of Public Prosecutions is to decide whether he should be tried in the Resident Magistrate's Court or in the Home Circuit Court.
