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Accused in $120M fraud case granted $15M bail
Businessman Eon Ferrier who is accused of swindling $120M from Nazar Mohamed, proprietor of Mohamed’s Enterprise on Lombard Street, was granted bail in the sum of $15M by Chief Justice (ag) Ian Chang.
Eon Ferrier
It is alleged that between June 22 and 23, at Bartica, Ferrier was entrusted with the sum of $120M to purchase gold, by Nazar Mohamed. However, Ferrier converted the money to his own use and benefit.
The defendant first appeared before Magistrate Ann McLennan on July 1, at the Georgetown Magistrates’ Courts and was remanded to prison. The matter was subsequently transferred to the Bartica Magistrate’s Court before Magistrate Dylon Bess.
Two Thursdays ago, Magistrate Bess recused himself from hearing the case against the businessman.
Magistrate Bess had announced that he was sending the matter back to the Chief Magistrate and he would no longer be handling the matter.
Attorney Latchmie Rahamat is prosecuting the matter by means of fiat. Rahamat was given permission by the Director of Public Prosecutions (DPP) to conduct legal proceedings against the defendant.
The lawyer said that Mohamed gave the money to Ferrier to purchase gold. She added that when the man (Mohamed) went to the defendant to uplift the articles, he received nothing. The matter was reported and the defendant was arrested and charged.
At a previous court hearing, Rahamat had asked the Magistrate to remand Ferrier to prison because he did something similar to someone else. She had argued that the man is a flight risk, and had also requested that bail be opposed citing the seriousness and penalty attached to the offence.
On the other hand, Ferrier’s Attorney, Patrice Henry had requested for his client to be granted bail. He had said that his client poses no risk of flight. The Attorney contended that the prosecution has no evidence to prove that the money was given to his client.
Ferrier was on remand in the Camp Street jail, but had been attending his court hearings in Bartica; he was admitted to the hospital in Bartica where doctors determined he was suffering from infections and mouth ulcers.
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