A woman charged with defrauding a number of investors to the tune of €100,000 has been denied bail.

Tanya Borg, 35, from Attard has pleaded not guilty to seven counts of fraud, seven counts of misappropriation of funds, falsification, knowingly making use of falsified documents, relapsing and committing a crime while serving a suspended sentence.

Borg, who looked visibly shaken, heard prosecuting inspectors Anne Marie Xuereb and Elton Taliana describe how several reports had been made to the police of various people investing between €15,000 and €30,000 each without seeing a return of their investment.

Presiding magistrate Joe Mifsud remarked that as time goes by, the courts are hearing more and more cases related to economic crime due to people’s desire to make a quick buck.

The woman is currently unemployed but has plans to start a childcare business, she told the court. In describing the events which led to the accused’s arrest, Xuereb said that Borg was previously a carer in a home for the elderly and this is how she approached multiple possible investors.

Xuereb said that in one particular case, an elderly man withdrew his life policy, his only form of savings, to invest with Borg. The plan was to earn a return on his investment and leave some money behind for his children.

The court heard how Borg would approach people to invest in the importation of washing detergents.

In his statement, Magistrate Mifsud said that the court increasingly has to defend “imbeciles” who wish to make a quick buck and enter into dodgy investments. He urged the public to make their money either through regular employment, or through investments in solid, sound institutions which are respected.

Lawyer Franco Debono representing the accused cautiously put forward a request for bail, telling the court that he understands the gravity of the situation, but also stressed that she had already started to repay some people and that if she was granted bail, she could continue to repay what she owed.

The prosecution objected to this on the grounds that the people who invested with her did not immediately go to the police, but they had pleaded with her and given her many chances to start seeing a return on their investment. After becoming desperate, the victims then went to the police in the hopes that they will see their money back.

Magistrate Mifsud, after considering all submissions, turned down the request for bail.

The case continues.