Regardless, Margaretic said, records showed Marco still had a “perfect payment record” with his clients over the eight-year period relating to the offences.
“Everyone was paid as they were promised to be paid, for all the time they invested with my client,” he said.
Margaretic said it was telling only seven of Marco’s more than 150 clients were participating in the court case against him, and some had even experienced a “net positive” through investing with him.
“With respect, no one held a gun to these people’s heads,” Margaretic said.
“They could have walked away with their money whenever they so pleased.”
Margaretic said Australian Securities and Investments Commission investigators had looked into whether the money had gone to “islands, private jets, boats”, but had turned up nothing.
“Every cent was accounted for,” he said.
“As long as his investors received their very, very handsome interest payments they didn’t care where it went.
“Anyone can make a bad investment and lose money on an investment, but that does not mean there was no investment.”
Marissen’s lawyer Simon Freitag said his client had a long-running working relationship with Marco, but her position meant she did not have insight into any alleged offending.
“She types emails … occasionally witness documents, makes phone calls,” he said.
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“She does all of those things at [Marco’s] direction.”
Freitag said her executive assistant title was not accurate, as she was “more of an assistant than an executive”.
“[Marco’s] the brains of the operation … she works for him,” Freitag said.
The court was told Marissen would occasionally complete transactions with Marco’s supervision.
“There is no evidence that she knew or understood the investment plans that he talked about with investors … that she knew what was going on,” Freitag said.
“She simply helped the administrative wheels tun without any great insight to what is going on.”
The trial is set to continue for eight weeks before Justice Natalie Whitby.
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