lawyer Larry Madeiros.

Madeiros faced 14 allegations of making illegal payments outside Bermuda of about $210,000.

But yesterday it emerged the 64-year-old attorney would no longer face a trial.

Attorney General Mr. Walter Maddocks said there was doubt whether the alleged offences had been committed.

"It was decided we should not prosecute. I don't run fliers,'' he stressed.

Property lawyer Madeiros is currently serving a three-year jail term for stealing.

In January 1993, he was convicted of cheating landowner Boyd Davis out of $506,000 while managing his finances.

The Supreme Court heard Madeiros spent the loot on gambling and trips abroad, including a jet-setting European tour with his girlfriend.

It was claimed he now had no property -- and nothing to show for his 37 years of practice on the Island.

The foreign currency charges were alleged to have been committed between December 25 1988 and December 31 1990.

Madeiros was accused of making payments outside the Island without the permission of the Bermuda Monetary Authority.

He had denied the allegations, and was due to face trial yesterday.

Mr. Maddocks said the decision to drop the charges followed a "tremendous'' amount of research.

"I do not prosecute until I am satisfied offences have been committed.'' Solicitor General Mr. Barrie Meade said the Attorney General's chambers did not as "a matter of practice'' explain why charges were dropped.

"I don't think it would be right to the accused person if we start bandying around details of charges which he hasn't had a chance to answer at a hearing.''