Carvil Duncan pleads in multimillion-dollar fraud case

Apr 12, 2016 Court Stories, Features / Columnists, News

The former Director of Guyana Power and Light was yesterday given the opportunity to plead to a

Former Director Carvil Duncan

simple larceny charge as police investigations continue into the multi-million dollar fraud he allegedly committed at the power company.
Carvil Duncan of Lot 1977 Lanstead Road, Festival City, Georgetown, appeared before Chief Magistrate Ann McLennan to face a simple larceny charge. It is alleged that he stole $984,900 from the Guyana Power and Light Incorporated (GPL) on March 31 of last year.
Prosecutor Neville Jeffers made an application for the Administration of Justice Act (AJA) to be applied so that Duncan can have a chance to plead to the offence. Duncan, who is the President of the Federation of Independent Trade Unions of Guyana (FITUG) and General Secretary of the Guyana Labour Union (GTU) pleaded not guilty to the offence.
He is also jointly charged with former (DCEO) Deputy Chief Executive Officer of the power company Aeshwar Deonarine, who was not present in court, as he is said to be out of the country. The men are alleged to have on the same day conspired with one another to steal $984,900 from the entity. Duncan pleaded not guilty to the charge and was subsequently placed on $1 M bail.
Deonarine who was previously summoned to court is also charged separately for stealing $27,757,547 from the power company on May 7 and May 8 of last year. The Magistrate ordered yet another arrest warrant for

Former Deputy Chief Executive Officer of GPL Aeshwar Deonarine

Deonarine and the matter was adjourned until April 28 for reports and statements.
The Government had asked the police to investigate the two senior officials last July. It was reported that the men paid themselves almost $29M without authorization.
In light of investigations, Deonarine was sent on administrative leave.
The discoveries of the suspicious transfers were made by independent auditors who were probing the PetroCaribe Fund, which hold proceeds of oil shipments taken from neighbouring Venezuela.
It was while tracking payments to GPL that auditors unearthed the strange transactions. Deonarine, who had been the DCEO responsible for administration had reportedly wanted to receive the same level of pay as the then DCEO (Technical), Colin Welch, but his approaches to the Board of Directors were rebuffed. He had reportedly offered to repay the money but GPL was supposed to have waited until it was transferred from his US bank account.