The courtroom has also heard crucial evidence concerning the efficiency of Woodlawn Capital in managing the fund, which dropped in benefit from about $forty three million to about $30 million.
He said the one capability he experienced acted in was "introducing men and women to possible opportunities in PNG".
"With volatility spiking it was tough to argue which the Australian market would not develop into embroiled in an aggressive selloff," Mr Hazard mentioned.
The organization officer to blame for having the positions was McNamara, who explained to the court docket he experienced experienced unjustifiable assurance in the strength from the Australian economic system.
The revelations have emerged from a row above $43 million of PNG governing administration dollars that was squirrelled absent in a small country bank department in Lismore in northern NSW.
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"I'm supplied a cost to the introduction but that is certainly it. I tend not to negotiate or Perform an active job in almost any of this".
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Two Sydney revenue professionals have demanded about $23 million in expenses for two several years work investing Papua New Guinea taxpayer money, many of which dropped in value by about $10 million.