A woman accused of defrauding the Financial Sector Adjustment Company (FINSAC) of more than $23 million yesterday had her $5-million bail extended when she appeared in the Half-Way-Tree Resident Magistrate’s Court.

The woman, Nicasha Edwards, 27, of Portmore in St Catherine, is to return to court on August 22 to again answer to charges of 11 counts of obtaining money by false pretenses and one count of larceny as a servant.

Allegations are that Edwards pretended that cheques valued at a total of $23,072,626 were lodged to a FINSAC bank account, causing the company to pay out that amount on her behalf.

Edwards also allegedly falsified lodgment vouchers she submitted to FINSAC to reflect cheques that were never lodged to the FINSAC account, allegedly forcing FINSAC to pay the equivalent of the cheques that were never lodged.

In addition, Edwards is alleged to have stolen FINSAC cheques and forged the signatures of the relevant officials, and has been accused of lodging the cheques to her personal account or that of other individuals or institutions.