Four months after a businessman had been remanded on a narco-trafficking charge, that resident of Festival City, North Ruimveldt, Georgetown has been granted $800,000 bail by the High Court on Friday.
CANU has said its ranks found a quantity of cocaine in suitcases at Peniston’s Festival City, Georgetown property
A bail application on behalf of 44-year-old Royston Peniston was heard on Friday by Justice Priya Sewnarine Beharry at the High Court in Demerara. Bail has been granted on condition that he reports to the Customs Anti-Narcotics Unit Headquarters every fortnight, commencing from July 17.
Peniston had initially been charged and remanded to prison by a Magistrate in early March for allegedly trafficking $2.1 million worth of cocaine at his Festival City, Georgetown property. About two weeks later, his attorney had approached the High Court for bail, but that application was refused by Justice Jo-Ann Barlow.
Particulars of the charge against Peniston state that on March 3, in the Georgetown Magisterial District, he had 2.178 kilograms of cocaine in his possession for the purpose of trafficking. According to CANU, the drug has a street value of $2.1 million.
Accused drug trafficker Royston Peniston
Peniston, called “Fat Joe”, is the owner of the popular Blue Iguana Night Club in Alberttown, Georgetown. On the day in question, CANU ranks had swooped down on the businessman’s property at Festival City and intercepted him with two hardcover suitcases in his possession. A search of the suitcases in his presence revealed a quantity of a whitish, powdery substance suspected to be cocaine. As such, Peniston was arrested and escorted to CANU Headquarters.
