Businessman in court for $8m fraud

A BUSINESSMAN linked to the shipping industry in Chaguaramas is expected to appear in the Port of Spain Magistrates' Court today charged with 32 counts of money laundering. He is also facing a charge of fraudulently obtaining over $8 million for the lease of two barges belonging to the Chaguaramas Development Authority (CDA).

According to police sources, during the period October 2015 - April this year, the businessman leased the barges to a south-based oilfield servicing company for a total of $8 million. The 54-year-old businessman of Westmoorings was not authorised by the CDA to lease or receive the cash.

The CDA reported the matter to the Fraud Squad and after investigations, the businessman was arrested on Sunday after he came off a JetBlue flight from Miami. Fraud Squad members sought the advice of DPP Roger Gaspard, SC, who gave the go-ahead for the suspect be charged with 32 counts of money laundering and one count of obtaining TT$6,132,105 and US$364,500 by false representation.

PC Keston Williams laid the charges. The investigation was led by head of the Fraud Squad Snr Supt Totaram Dookhie and included ASP Kent Ghisyawan, Sgts Samuel and Thomas, legal officer Vinel Bassarath and WPCs Adams and Mohammed.