Australian businessman Foster to face fraud charges

High-profile businessman Peter Foster, notorious for his business dealings with Cherie Blair, was today ordered to stand trial for alleged fraud in Australia and the South Pacific.

Australian Peter Foster, 44, did not enter a plea when he appeared in Brisbane Magistrates Court on four fraud charges.

The charges allege he fraudulently obtained £117,000 (€172,000) from the Bank of the Federated States of Micronesia. He is also alleged to have dishonestly obtained benefits on three occasions – twice in Brisbane, the capital of Queensland state, and once at his neighbouring hometown of Gold Coast – totalling 400,000 Australian dollars (€252,000).

Magistrate Jacqui Payne ruled there was sufficient evidence for Foster to stand trial in the Queensland Supreme Court on the charges at a date to be set.

Foster did not apply for bail and will likely remain in custody until the charges are resolved.