Tycoon says detectives jumped to conclusions in murder case

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A property tycoon charged with hiring two hit men to kill a business associate has accused the police of failing to investigate the case properly and jumping to conclusions over sums of money he paid to one of the alleged killers.

Nicholas van Hoogstraten said the prosecution was "clutching at straws" in the way it had linked him with the two other defendants. The allegations against him were, he told the Old Bailey yesterday, "frightening but laughable".

The business associate, Mohammed Sabir Raja, was stabbed and shot at his home in Sutton, south London, in July 1999. The prosecution alleges that Mr van Hoogstraten, 57, of Uckfield, East Sussex, conspired with David Croke, 59, of Brighton, and Robert Knapp, 55, of Abbeyfeale, Co Limerick, to murder Mr Raja.

All three men deny murder and conspiracy.

During his second day giving evidence, Mr van Hoogstraten was asked by his counsel, Richard Ferguson QC, to explain payments by cheque amounting to several thousands of pounds to Mr Knapp, whom he knew because Mr Knapp's parents were old friends who lived on the tycoon's estate in Sussex.

Mr van Hoogstraten said they were loans made for a variety of reasons that he had expected to be repaid. Referring to an August 1999 entry in his diary that read: "£2,000 paid to Bob, No.7", he said this referred to a print by the American artist Jasper Johns that was given by Mr Knapp as a way of reducing his debt. The print was called No.7

On Monday, Mr van Hoogstraten described as "peanuts" a civil action being brought against him by Mr Raja, who was also a property consultant, arguing that it was not a motive for having him killed. Yesterday he went further, saying it was ludicrous to suggest a contract killing would be paid for in instalments and by cheque.

"I would have thought anyone carrying out a contract hit would want cash," he said.

He also criticised police for linking him with Mr Croke, the second alleged murderer, because of an entry in his diary making reference on 28 September 1998 to a "Jim Croke" next to another saying "1pm" at Courtlands, one of Mr van Hoogstraten's hotels in Brighton. He said he had found it difficult to explain, until staff reminded him it referred to a different person, a maintenance man called "Crokey".

The trial continues.