Two leading businessmen arrested for the alleged theft of $145,000 from a development company opted for a long-form preliminary inquiry in plea court yesterday.

Arthur Jones the owner and director of the Island?s biggest realtor, Coldwell Banker JW Bermuda Realty, and Fraser Butterworth, the president and secretary of the Institute of Bermuda Architects will face a two week hearing on April 18 next year.

Long form preliminary investigations allow a magistrate to assess whether there is enough evidence to warrant a trial.

But the election sparked a howl of protest from magistrate Edward King who called for the procedure to be abolished.

He fumed: ?Bermuda needs to get in line with the rest of the world. You should not have two trials on the same issue. Long form PIs are dead and they should be dead in Bermuda.?

Jones was represented by Saul Froomkin and Butterworth was represented by Richard Horseman.

Jones 52, and Butterworth, 62, were charged with attempting to defraud the unit holders of the Harbour Gardens Estate between January 1, 1995 and October 27, 1995. Butterworth and Jones were also charged with stealing $145,000 on or about October 27, 1995.

Jones and Butterworth are directors of Harbour Gardens Ltd., which was set up in 1995 to convert the pool wing of the former Palm Reef Hotel into nine townhouses worth between $570,000 and $660,000 each.