Arrival of Finbarr Ross in Belfast now imminent

The Belfast solicitor acting for Mr Finbarr Ross said last night he expects the former financier to be escorted by RUC officers from the US to Belfast today or tomorrow.

Once he arrives Mr Ross (53) is likely to be brought before a Magistrates Court, probably in Belfast, at the earliest possible opportunity, said his solicitor, Mr Joe Rice, of John J Rice solicitors.

"We will outline to the court the reasons why we think he should be found not guilty," Mr Rice said. Mr Ross will argue that he had no criminal involvement in the matters before the court, and that the length of time which has passed since the alleged offences means he cannot receive a fair trial.

"He will also say that the consistent attacks on him in the media in Northern Ireland and the Republic mean that his chances of being tried before an impartial jury are now virtually nil."

Mr Ross is being extradited from the US on foot of warrants from the RUC in relation to 41 charges arising from the collapse in 1984 of his investment company International Investments Ltd (IIL). The company had debts of between £5 million and £7 million when it collapsed and approximately 1,200 investors were left at a loss. IIL was registered in Gibraltar but had its offices in Dublin. The bulk of its investors were in Northern Ireland.

Mr Ross was taken from Muskogee County Jail, Oklahoma, early on Tuesday and is understood to be in a federal detention centre in Alexandria, Virginia, awaiting transport to Northern Ireland. He had been in Muskogee jail since he was arrested in March, 1998. During the past year he was unsuccessful in a number of court attempts to prevent his extradition.

Last night Mr John Fleck, secretary to a committee representing former IIL investors, said they were "very, very happy" that Mr Ross was being extradited to Northern Ireland to face trial. "This proves that no matter how long it has taken our point is being proved right," Mr Fleck said. He said it also meant "we are going to eventually get our money back". He said the investors were hopeful they could get compensation from individuals who worked alongside Mr Ross.

Mr Fleck said that if Mr Ross is found guilty of fraud in relation to the collapse of his company, it will put pressure on the Irish government to appoint a High Court inspector to investigate the whole affair. He claimed that the fear of what would be disclosed led to Mr Ross's business activities never being properly investigated in the Republic.

"If he is found guilty that means that the investors were right and a fraud was perpetrated here and in Dublin. All the money ended up in Dublin and the receipts were issued from there, so why hasn't the Government appointed a High Court inspector?"

He said investors were very unhappy with what had happened after the collapse of the company and with the way the original liquidator to IIL was replaced. "It's what happened afterwards that I really want to get my hands on," Mr Fleck said. "He has key information but whether he will give it to us or not, I don't know."

Mr Fleck claimed that if the true story behind IIL and what happened after it collapsed is revealed, "there will be a mighty furore". He said the investors were pursuing the matter to the European Court of Human Rights.

Before IIL collapsed, Mr Fleck, acting on the advice of the broker he then worked for, advised his mother and some clients to invest £4,000 with Mr Ross. When the company collapsed he felt responsible, as he believed he had not properly investigated IIL's affairs. He returned the £4,000 to the out-of-pocket investors from his own funds. "That was fifteen years ago, it was a lot of money then, and I want it back."