A few months after Zameel Shaheed, the former manager of Demerara Mutual Life Assurance, was slapped with 45 fraud-charges, the Director of Public Prosecutions (DPP) has advised that an extradition proceedings be initiated for the accused to be brought here to face the charges.
Police Prosecutor Shellon Daniels informed Principal Magistrate Sherdel Isaacs-Marcus when the case was called in the Georgetown Magistrates’ Courts.
The Prosecutor asked for an adjourned date to report on the proceedings; hence, the Magistrate adjourned the matter until November 18 for report.
Last March, the Magistrate issued an arrest warrant for Shaheed after he failed to show up for a third time in court.
Shaheed, who is reportedly in the United States, is accused of defrauding the insurance company of over $40 million. He has failed to show up in the Georgetown Magistrates’ Courts, where he is to answer to the charges.
It was reported that Shaheed was the manager of the Claims Department at Demerara Mutual Life Assurance.
Between 2013 and 2017, he allegedly authorised transactions amounting to in excess of $40 million to 16 persons who were not entitled to claims. Shaheed, however, collected the monies for his own use and benefit.
Hence, the matter was reported and an investigation was carried out after which the charges were instituted. Following the audit, Shaheed reportedly submitted his resignation while overseas.