A trader, who allegedly stole his employer's entire client list, may still have to stand trial for the offence.

Stuart Lacey, 31, of Bostock Hill, Paget, was charged with downloading data while he worked as a trader for Emerald Financial Limited.

The Crown alleges that Lacey was planning to resign from his job and that he was attempting to get contacts before he left the company to go and work for a competing firm.

The case was eventually thrown out when Lacey appeared in Magistrates' Court in October because the prosecution was unable to provide key evidence.

But on Monday, Crown counsel Oonagh Vaucrosson appealed the ruling, claiming that the charge was "tantamount to theft".

Mrs. Vaucrosson told Justice Ian Kawaley that, at the time of the original trial, she had been trying to get more evidence from a witness, and it was difficult because witness had been travelling a lot. After several delays, the case was eventually dismissed.

When Justice Kawaley said he did not think the case should have been brought up as a criminal case Mrs. Vaucrosson insisted the offence was criminal in nature.

"In my thinking it is no different to an employee who works for the bank and steals money to put aside for themselves," said Mrs. Vaucrosson.

"The client list is the firm's livelihood, they cannot do without it ? the entire client base was downloaded. This is tantamount to theft."

But defence lawyer Mark Diel said he did not know what the Department of Public Prosecutions' case was.

He said Lacey was Emerald's information technology specialist as well as a trader and, as a result, had had access to the data.

He added that his client had not handed in his resignation, although he did confirm that his employers did find a letter of resignation in Lacey's briefcase.

Mrs. Vaucrosson countered that the company's data system was set up in such a way that there was no need for Lacey to have downloaded the entire list of clients.

And she told the court that the Lacey's laptop on which the client list was downloaded was seized by Police and the information was removed.

Mr. Diel also argued that it was prejudicial for his client to have the case hanging over him.

"Mr. Lacey is up for a promotion and he cannot get it," he said. "Also the BMA (Bermuda Monetary Authority) will not allow him to accept shares in the company he is employed by until the matter has been resolved."

Mr. Justice Kawaley heard both lawyers' arguments before deciding to reserve judgement on the appeal.