Eugene Liu, Asset Management director of Astarra, said he thought his position as firm director was only an "honorary position" with no specific responsibilities.

Mr. Liu is being investigated regarding his role in Astarra, which about $123 million into hedge funds offshore, and his dealings and relationship with Trio Capital, a NSW finance manager, which is currently in liquidation.

Investors have placed about $400 million in Trio Capital, most of it superannuation money, which in turn put the $123 million in Astarra's hands. PPB, liquidator of Trio Capital, is holding a public investigation in the Supreme Court of NSW in an effort to pinpoint the location of Astarra's assets.

Garbed in a blue fleece jacket, Mr. Liu recounted his testimonial with his head bowed in the witness box, prompting his questioner to keep his face up. Mr. Liu struggled in replying to the first set of questions, like when he was about his age in 2002.

"I am still nervous right now," he said, appearing quite upset in the box.

In the next session, Mr. Liu resumed his testimony and recounted his early dealings with Matthew Littauer, for which he picked laundry, bought tickets for flights and "doing whatever Matthew asked me to do".

Littauer passed away in 2004, in Tokyo, evidently murdered, and Mr. Liu claimed he was quite "shocked" when news of his boss' death reached him.

The NSW court heard some time earlier that Mr. Liu met with the business associate of Littauer, Jack Flader, who is based in Hon Kong.

Shawn Richard, a colleague of Mr Liu, has told the court that it was Mr Flader who had ultimate control over the Trio Capital and that the Astarra money were placed into the Exploration Fund offshore, which was also related with Mr. Flader.

Mr. Liu, who advanced from his earlier work to later become investment manager and firm director, was questioned yesterday if he knew whether the Exploration Fund was going use the investors' money to purchase assets controlled by Mr. Flader.

Mr. Liu responded he knew the money was placed in some agreements "that were originally sourced by Jack".

The investigation continues.

Both Mr. Richard and Mr. Liu requested the court to have private examinations instead, but were promptly rejected by the court.