Jackman declares bankruptcy, needs legal aid

The former director of the collapsed Rare Coin Company has declared he is bankrupt when facing charges he allegedly stole $1.8 million from investors before his company collapsed four years ago.

Robert Colin Jackman made brief appearance in the Albany Magistrates Court today facing 36 counts of stealing cash from 20 investors after a lengthy investigation by the Major Fraud Squad.

The court heard the amount allegedly stolen totalled $1,819,530 from September 2011 to July 2013 before the company went into liquidation.

Mr Jackman acknowledged the 36 counts of stealing before seeking a four-week adjournment for legal advice, telling the court he was now bankrupt and would need a grant of Legal Aid.

“I’m bankrupt your honour and I’m totally lost as to what to do,” he told Magistrate Janelle Scutt.

The Rare Coin Company bought, stored and sold rare coins and notes on behalf of investors and was storing customer purchases when liquidators were appointed in July, 2013.

Mr Jackman was charged by the Major Fraud Squad earlier this month with the 36 counts of stealing from 20 investors who stored their rare coins and notes with the Albany trader.

Police allege the investors were told by Mr Jackman their stock had not been sold, but after further investigation it was established the stock allegedly had been sold and the investors had not received payment.

Magistrate Scutt remanded Mr Jackman on bail to reappear on October 12.