The courtroom has also listened to vital evidence regarding the functionality of Woodlawn Money in handling the fund, which dropped in value from about $forty three million to about $30 million.
He claimed the sole capacity he experienced acted in was "introducing people to potential prospects in PNG".
"With volatility spiking it had been difficult to argue the Australian market would not develop into embroiled within an aggressive selloff," Mr Danger claimed.
The corporation officer responsible for taking the positions was McNamara, who told the court docket he experienced experienced unjustifiable assurance in the strength from the Australian economic system.
The revelations have emerged from a row above $forty three million of PNG governing administration revenue which was squirrelled away in a little region bank branch in Lismore in northern NSW.
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Two Sydney income administrators have demanded about $23 million in costs for 2 many years get the job done investing Papua New Guinea taxpayer funds, a number of here which dropped in benefit by about $10 million.