Guyana bank directors in fraud case offered bail

Monday, October 23, 2017

Print this page Email A Friend!


GEORGETOWN, Guyana (CMC) — Eight directors with the Guyana Bank For Trade Industry were released when they appeared in Court on Monday.

They are all charged with failing to comply with an order of the High Court, in relation to providing information about the movement of US$500 million in the account of the Guyana Rice Development Board.

Attorney Nigel Hughes who represented the eight accused – Chairman Robin Stoby and Directors, Edward A Beharry, Suresh Beharry, Kathryn Eytle-McLean, Richard Isava, Carlton James, Basil Mahadeo and acting Chief Executive Officer Shaleeza Shaw, said the stance taken by the court was nothing more than an abuse of prosecutorial power.

The accused denied the allegation which stated that on the 7th of September, they failed to comply with a Court order made by the Chief Justice.

According to Hughes, his clients were following the Court order and were last Friday granted an extension by the Chief Justice to turn over all the relevant information to the Special Organised Crime Unit (SOCU).

SOCU recently launched an investigation into tracking down over US$500M that the Guyana Rice Development Board (GRDB) handled as far back as 2010.

During the investigation, GBTI and SOCU battled over information concerning the GRDB accounts. SOCU believes the documents could possibly point to major fraud taking place at the GRDB under the previous government.

ADVERTISEMENT




POST A COMMENT

HOUSE RULES

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT

Poll

ADVERTISEMENT
ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT