Bank fraud accused remains behind bars as case stalls

– court hears prosecution still waiting on bank statements

The $36 million bank fraud case involving 23-year-old Shemaiah Ryan, known as “Banker,” has hit yet another delay, as the prosecution told the court on Friday that it is still awaiting critical documents from the bank in question.
The matter was called before Principal Magistrate Faith McGusty at the Georgetown Magistrate’s Court.

Ryan, who remains incarcerated, did not appear in court. The prosecutor informed the court that the outstanding bank statements are essential for disclosure and requested additional time.
Defence attorney, Dominick Bess, voiced his frustration with the delay, noting that at the previous court hearing, the prosecution had similarly claimed that an investigation was ongoing. He argued that the matter had been under investigation for some time and insisted that the prosecution had “more than enough time” to produce the necessary disclosures.
Bess also requested a peremptory date—a legal context that signifies a final or absolute date, after which further delay or reconsideration is not permitted. It’s often used to set the deadline for an action, such as a trial date, meaning that no further postponements will be granted on the party’s request.
But Magistrate McGusty declined. She stated that, according to court records, the case was first brought before the court on April 4, and she was not prepared to grant the request at this stage. The matter was adjourned to June 6, 2025, for disclosure and further proceedings.
Ryan was arrested on March 31 by officers from the Criminal Investigation Department’s fraud unit after a wanted bulletin had been issued for him. He now faces 25 counts of simple larceny under the Criminal Law (Offences) Act, and 23 counts of conspiracy to commit computer-related fraud, under the Cyber Crime Act of 2018.
The charges stem from an elaborate scheme in which more than $36 million was siphoned from the joint savings account of Bernadette and Carl Peterkin. The couple had never signed up for internet banking nor received any ATM cards from their bank. However, investigators say that on September 2, 2022, Ryan and others allegedly created a fake national ID card using Carl Peterkin’s personal information. A man then used that ID to impersonate Peterkin at a Camp Street branch of a commercial bank, where he successfully requested an ATM card and online banking access.
Shortly afterward, Ryan reportedly contacted two women—Donna Edwards and her daughter, Chelsea Edwards—whom he had known for years. Claiming to be a government contractor tied up with roadwork in Berbice, he asked to use their accounts to transfer money, allegedly telling them he was unable to travel to Georgetown to make withdrawals. Investigators say the women agreed, withdrew the funds, and handed them over to Ryan.
Between September 2 and 19, a total of $17,997,000 was transferred to Chelsea Edwards’ account in 13 transactions, while $13,618,000 was sent to Donna Edwards’ account between September 7 and 27.
During this period, Ryan also reportedly used the fraudulently obtained ATM card to make 27 cash withdrawals from ATMs across Georgetown, totalling $4,829,000. These transactions were captured on CCTV and are believed to show Ryan himself conducting the withdrawals.
Police have not yet indicated whether the Edwards women will be charged or if other suspects are being pursued. The investigation remains ongoing.