Brandon Lloyd avoids conviction after being sprung buying cocaine in Bondi

The head of financial markets at a bank has been labelled a “sucker” by a magistrate, after he was caught “red-handed” buying drugs on a night out in Bondi.

Brandon Lloyd leaves Waverly Local Court

The head of financial markets at a bank has been labelled a “sucker” by a magistrate, after he was caught “red-handed” buying drugs on a night out in Bondi.

Brandon Lloyd, 47, of Leichhardt, faced Waverley Local Court on Tuesday after pleading guilty to one count of possessing a prohibited drug.

Lloyd, who is employed by ING Australia, was caught by police on December 13 buying cocaine outside the Royal Hotel in Bondi.

Police facts tendered to the court state Lloyd was observed getting in the passenger seat of a Volkswagen Golf before exiting 20 seconds later.

Suspecting a drug transaction had just occurred, police stopped both Lloyd and the driver of the Golf, before locating 14 bags of cocaine inside the car, agreed facts state.

Lloyd confessed to officers he had just paid $700 for two bags of cocaine, which he’d placed in his pocket.

Brandon Lloyd. Picture: LinkedIn

Brandon Lloyd leaves Waverley Local Court

On Tuesday, barrister Timothy Lowe told the court his client’s decision that evening was “alcohol-fuelled” and he’d since engaged “the best psychologist in the business” to address his alcohol use which was the “the root cause of the offending”.

Mr Lowe went on to say his client was a “good man in essence” who was grappling with the “professional responsibilities” of his “high stress occupation in financial markets”.

When Mr Lowe stated Lloyd had been “open with police from the start”, he was interjected by Magistrate Michael Barko stating “.. because he got caught red-handed”.

Magistrate Barko, who is a vocal critic of the eastern suburbs drug scene, then delivered Lloyd a stern dressing down labelling him a “sucker”.

Lloyd was busted outside the pub the Royal Hotel in Bondi.

“You purchased two bags for $700, you got ripped off, you got 1.4g at 0.7g in a bag. I guarantee you thought you were buying 2g, because these people are thieves and you’re a sucker,” he said

“Were your friends not funny enough, was the game of pool not good enough, was Tottis not good enough?”

Magistrate Barko then lamented it was “disappointing” he had to deal with 47 year olds facing court for the same matters as numerous 18 year olds.

“It’s very disappointing to deal with 47 year olds, how can police ever win the war on drugs when well educated people, good people who are loved and admired by all support the drug industry.

“Police are never gonna win.”

Ultimately Magistrate Barko chose to deal with the matters by way of a non-conviction, sentencing Lloyd to a 12 month conditional release order.