Two former board members of the Guyana Rice Development Board (GRDB) were on Friday slapped with 34 fraud-related charges and placed on $1M bail each for failing to make a proper entry into a register of a company and misappropriation of over $8.5M from the entity.
Former General Manager, Jagnarine Singh and former Deputy GM, Madanlall Ramraj appeared before Chief Magistrate, Ann McLennan at the Georgetown Magistrate’s Court where they were jointly charged with GRDB accountant, Peter Ramcharran who is currently in Canada; a warrant is out for his arrest.
The prosecution’s case which was presented by Special Prosecutor, Patrice Henry, stated that between 2011 to 2012 the three officials on 17 occasions committed the acts knowing that it was contrary to the entity’s standard operating procedures. They were not required to plead to the indictable offence.
The prosecution is alleging that between 2011 and 2012, the three officials, with intent to defraud, omitted or concurred to be omitted $8.5M from the general ledger of the GRDB.
It is also alleged the during that period the three defendants fraudulently took or applied for the monies for their own use or benefit or any use or purpose for the GRDB. And additional 17 counts of fraudulent misappropriation were read to the two men. The charges remain indictable.
They were represented by attorney, Glen Hanoman who told the court that both his clients are currently unemployed due to a witch hunt by the Special Organised Crime Unit (SOCU).
Hanoman further stressed that his clients along with other former members of the GRDB, were charged with similar offences in May of this year. Prosecutor Henry asked that bail be set at a substantial amount due to the severity of the allegations.
The case was adjourned to November 16, 2017.
