An alleged fraudster of Eccles, East Bank Demerara, was on Wednesday released on $150,000 bail by Chief Magistrate Ann McLennan when Attorney-at-Law Bernard Da Silva successfully made an application for bail.
The court heard that Amnirood Persaud between August 1, 2016 and February 17, 2017, at Eccles, was solely entrusted by the Virtual Complainant (VC) Dand Sugrim with a quantity of pearl, gold and diamond jewellery valued at some $10.3 million. Instead of returning the pearl, gold and diamond jewellery to the VC, Persaud is accused of fraudulently converting same to his own use and benefit.
Persaud, who is a gold miner by trade, denied the allegation and entered a not guilty plea.
The parties are known to each other and are reportedly business partners, with the said allegation stemming from a business deal gone sour. Guyana Times understands that the VC pawned the said jewellery, which naturally attracts an interest rate.
However, he refused to cover the costs incurred, thus escalating the situation and finding the matter before the courts.
The accused is expected to return to court on April 20 for statements to be filed.
