Man granted bail for fraudulent conversion

Glenroy Joyce of 39 Public Road, Vergenoegen, East Bank Essequibo was on Thursday arraigned before Principal Magistrate Judy Latchman on a charge alleging that he had embezzled $2,650,000 from his employer, John Fernandes Limited, while he served as a clerk/cashier during the period July/August 2017.
Represented by Attorney Dexter Todd, the 34-year-old pleaded not guilty as charged.
It was detailed to the court that during his tenure at the shipping company, Joyce had allegedly taken the money into his possession at the company’s operations at Mandela Avenue, Georgetown. However, the court did not hear how Joyce had disposed of the embezzled money.
Defence attorney Dexter Todd told the court that his client, who is unemployed at the moment, had given an oral statement to a representative of the shipping company, and had already partially refunded the company; but his arraignment in court was occasioned because he had failed to make a payment to the company on time last month.
Todd said his client is willing to keep his end of the deal: fully reimbursing the company the sum in question.
Joyce has been placed on bail in the sum of $100,000, and is scheduled to return to court on April 6.