Former Norbourg boss Lacroix won't testify at his fraud trial

The formerhead of Norbourg Asset Management has decided not to testify in his own defence at his fraud trial, saying he doesn't have enough credibility left to take the stand.

Vincent Lacroix's decision on Tuesday put an end to his criminal trial after 46 days of testimony.

The court proceedings will resume Nov. 12, when final arguments will be made.

"Where is the credibility in me being my only defence witness?" Lacroix said outside the Montreal courtroom. "All throughout the trial my credibility has been attacked.

"To be the only witness in my defence was completely useless."

Lacroix is facing 51 charges under Quebec securities law, with authorities alleging he filed at least 111 false reportsto securities regulators. He is also alleged to have defrauded 9,200 investors of millions of dollars.

Quebec court Judge Claude Leblond refused Lacroix's request on Monday to call 30 witnesses to the stand, declaring them not pertinent because Lacroix was unable to establish links between them and the charges he's facing.

Leblond allowed one witness, Éric Asselin, but Lacroix decided to not to question him.

"I would rather have been hit by a truck," a dejected Lacroix said. "I am still surprised by the turn of events, that the witnesses I wanted have not been accepted."

When Lacroix told Leblond he would not testify, the judge replied, "It's your choice."

Lacroix seemed to be lacking confidence as he left the courthouse.

"The judge will decide if I'm guilty," he said. "With the defence I've presented, we already know the verdict."