South Shields man to stand trial accused of investment fraud charges

A man faces a trial next year accused of investment fraud charges.
Watch more of our videos on Shots! 
and live on Freeview channel 276
Visit Shots! now

Stephen Rae, 60, is accused of 15 offences of fraud, against 15 individuals, between June 2014 and November 2015.The charges relate to accusations that Rae fraudulently took money from people on the basis it would be invested and repaid with interest.At Newcastle Crown Court Rae, of King George Road, South Shields, pleaded not guilty to all 15 charges.No details were given during the hearing about the amount of monies involved in the allegations.A trial has been listed to take place on February 8 next year and is due to last around four weeks.A pre-trial hearing will be held on April 30.Judge Paul Sloan QC said Rae could have conditional bail in the meantime.The conditions of bail mean Rae must provide an address for correspondence purposes and have no contact with prosecution witnesses.