KENT PANTRY, the Director of Public Prosecutions (DPP), has dropped charges against Nicole-Ann Fullerton for a breach of the Financial Institutions Act.

Ms. Fullerton's attorney, Jacqueline Samuels-Brown, had written to the DPP for the charges to be dropped.

Fullerton, who was acting operations manager of the failed Caldon Merchant Bank, was convicted of defrauding businessman Colin Karjohn of $15 million.

In that case, the Crown had led evidence that Karjohn gave Fullerton a total of $15 million on January 2, 1998, to invest in Treasury bills, but the money was never returned to Karjohn.

Awaiting appeal hearing

She has appealed her conviction and is now on bail awaiting the hearing of her appeal.

Fullerton was due to appear in court on January 5 to answer the charge brought under the Financial Institution Act.

However, in writing to the DPP, Ms. Samuels-Brown argued that it would be unfair to her client and that proceeding with the case amounted to an unfair abuse of the process of the court.