Man charged in $1.4m Central Bank cheque fraud case

A Valencia man was granted $500,000 bail after being arrested for allegedly trying to cash two fraudulent Central Bank cheques worth $1.4 million.

Spartacus Coutain, 36, of New City Avenue, Valencia, was charged with two counts of uttering a forged valuable security and attempting to obtain money by false pretence.

Police said on November 24, a man tried to a cash Central Bank cheque drawn on the account of the Ministry of Rural Development and Local Government for $900,000.

The cheque was accepted as genuine, but later discovered to be fraudulent, and no payment was made.

The Fraud Squad was contacted and the man arrested.

Additional investigations revealed that on May 23, the same man deposited a Central Bank cheque drawn on the account of the Ministry of Works and Transport for $500,000 into his account.

That cheque was also discovered to be fraudulent and was not paid.

Coutain was charged by Cpl Williams of the Fraud Squad. The investigative team was led by Insp Tricia Smith and led by Snr Supt Arlet Groome.

He was granted bail when he appeared before justice of the peace Stephen Young and will appear before a magistrate on December 29.