Lawyer Charles Vaucrosson yesterday told Supreme Court he handled property transactions for alleged fraudster and former Bank of Bermuda chief Arnold Todd.

Mr. Vaucrosson -- described in court as a prisoner at Westgate -- told Crown counsel Michael Pert QC that he met Todd through property developer Delmont Talbot, who was a client of his law firm.

He told Mr. Pert that he had conversations with Mr. Talbot -- who has already given evidence for the prosecution -- about finance for the developer's property deals.

Mr. Vaucrosson said Mr. Talbot told him Todd was "helping him with his finance -- he would arrange loans for him at the bank''.

He added that in the 1980s, his relationship with Todd broadened to include some of his own business dealings.

Mr. Vaucrosson told the court a company called Perinton Acres was set up in 1987, including himself and Todd as shareholders, to develop land in St.

Anne's Road, Southampton.

He added he arranged a $2 million loan from the Bank of Butterfield to finance the development and that the bank required to see the title deeds, share register and plans for the land.

Mr. Vaucrosson said: "Todd transferred the whole of his shareholding -- half to Darren Woods and half to Delmont Talbot.'' And he agreed with Mr. Pert that Todd's name did not appear on the register of shareholders after that, or in official notices carried in the newspapers.

But he also said that in early 1988, 7,500 of Perinton Acres' shares were transferred to Arnest Ltd. -- a company allegedly controlled by Todd.

Earlier in the trial, Mr. Pert alleged that Arnest Ltd, where an uncle and co-accused Varnel Curtis were directors, was a "piggy bank'' for Todd which had an account with the Bank of Bermuda, operated from a post office box in Warwick and which Todd treated like "a bona fide, arm's length customer''.

Mr. Vaucrosson added his firm had also incorporated Twin Bays Ltd on the instructions of Darren Woods, with his father Milton Woods holding the bulk of the shares.

But he agreed with Mr. Pert that in August 1986 half the shares went to Arnest Ltd, with Varnel Curtis holding one in trust for Arnest.

He added that a notice of incorporation had to be advertised and said: "If the person incorporating the company didn't want their name to appear for whatever reason, it would be incorporated in someone else's name.'' Mr. Vaucrosson added that minutes for company meetings did not always require the shareholders to be present.

He said if a main beneficiary phoned with instructions they were carried out, minutes for a meeting were drawn up later and other directors signed them.

And he told the court: "I never sat down with Milton Woods or Varnel Curtis for a meeting in connection with Twin Bays Ltd.'' He added: "The instructions would mostly come from Mr. Todd or Darren Woods -- we never got instructions from Milton Woods.'' Unemployed Todd, 56, of Pearman's Hill, Warwick faces a total of 17 charges of theft, fraud, and false accounting, allegedly committed between 1985 and 1990.

The Crown claims he used his position as a senior loans officer at the Bank of Bermuda to submit bogus loan applications and created a network of companies to further his schemes.

Also in the dock are importer Curtis, 49, of St. Anne's Drive, Southampton; hotel security chief Milton Woods, 61, Old Road, Southampton and businessman Cecil Durham, 56, Ramgoat Hill, Smith's Parish.

The three face charges relating to the allegations against Todd. The four accused deny all the allegations, which involve around $1.2 million.

The trial, before Puisne Judge Richard Ground, continues.