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Merrill Lynch, Pierce Fenner and Smith Inc v Raffa; 11 May 2000

References: [2001] 1 LPR 31
Coram: Judge Raymond Jack Q.C
The judge ruled on the admission of admissions made by the defendant at without prejudice meetings. There was acceptance of Mr Raffa’s involvement in the fraud though he raised the question of collaborators. If he did admit at least his involvement, any defence denying that would be dishonest and supporting it would involve perjury. It was the heart of the litigation. In Unilever the court referred to the exclusion of the evidence as a cloak for perjury. That situation would arise here. The admissions were admissible on that basis. It was a very clear case.
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