A financial advisor charged in a bomb-murder plot paid the victim from his own credit card at one point, court has been told.
Testifying on Thursday, Linda Howes, a forensic accountant, said Brian Malley made payments to Victoria Shachtay over four years totalling $44,300, including $14,400 in cheques from Malley’s MasterCard.
That money went to either Shachtay or to her landlord to cover Shachtay’s rent.
Malley, 57, is on trial for first-degree murder in Red Deer Court of Queen’s Bench. Shachtay, 23, was killed on Nov. 25, 2011, when she opened a Christmas gift that she found on her doorstep that morning. The gift disguised a homemade pipe bomb that exploded when she opened it.
Malley was managing Shachtay’s investments after the Innisfail single mother received a large settlement from a crash that left her a quadriplegic.
Their financial relationship started in 2007 when Shachtay invested $575,000 of the settlement money. The account closed in April 2011 when the money ran out. Malley continued to make payments to Shachtay until Oct. 15, 2011.
Over that time, Malley averaged $600,000 a year in income.
The Crown has previously said that Malley’s motive for killing Shachtay was to cut his losses.
Howes, a senior forensic accountant with the federal government, was tasked with investigating the financial relationship between Malley and Shachtay by the RCMP in 2013.
Howes said every year the investment posted a net capital loss, and shares were always sold at a loss. The biggest loss in value, $390,000, came in late 2008. About 92 per cent of the investment was in a single stock, Enervest Diversified Income Trust. Shares dropped to half of their value, taking a large bite out of the investment’s value.
Many shares were bought on margin, taking out a loan to buy them, she said.
Also during Howes’ testimony, claims made by Malley in an interview three days after the bombing were questioned.
Malley said Shachtay’s mother gave him $15,000 to give to the victim. However, Howes said there was no indication based on her investigation that Malley received they money or gave it to Shachtay.
The jury trial continues today in Red Deer Court of Queen’s Bench.
mcrawford@www.reddeeradvocate.com