Businessman jailed for $26M fraud
The Chairman of Micro Business Developers and Consultancy Company was on Friday sentenced to 36 months imprisonment for defrauding a man of over $26M by forging cheques.
Clayton Allen, 57of South Better Hope, East Coast Demerara was found guilty of the charge by Senior Magistrate, Fabayo Azore after being on trial for almost a year.
The charge read that between December 2 to December 13, 2016, in Georgetown, with intent to defraud, he obtained from Jeetendra Ram of Fantasy Auto Sales six motorcars valued $26,300,000 under or by virtue of forged Republic Bank Ltd. managers cheque in favour of Fantasy Auto Sales.
The two parties had entered into an agreement of sales to purchase six motorcars from Ram’s company and Allen paid with a manger’s cheque. However, when Ram tried to cash the cheque, he realised that it was forged.
In October 2017, Allen was sentenced to 46 months imprisonment by Principal Magistrate, Judy Latchman for fraud.
In that case, he was found guilty of defrauding Kizzy Shepherd of $415,000 by falsely pretending that he was in the position to grant her a $3.4M loan between November 3, 2016, and February 8, 2017, knowing same to be false.
However, Allen appealed the matter and was granted bail.