Former head of the failed Caldon Finance Group, Henry Fullerton, and his daughter, Nicole Ann, appeared in the Corporate Area Resident Magistrate's Court, Wednesday.

They are charged with breaches of the Financial Institutions Act.

Resident Magistrate Judith Pusey ordered them to return to court on July 26 when it is expected that the director of public prosecutions will decide whether they will be tried in the RM Court or the Home Circuit Court.

It is being alleged that they made false representation about the solvency of Caldon Merchant Bank, when businessman Colin Karjohn invested $15 million to purchase treasury bills. The Crown is alleging that the Fullertons knew at the time when Karjohn invested the money that the bank was insolvent.

Miss Fullerton was convicted in March this year of defrauding Karjohn of $15 million.

She was sentenced to 12 months' imprisonment and is appealing her conviction and sentence. She is on bail in the sum of $6 million with sureties.