Latest update February 13th, 2025 4:37 PM
Latest News
- Brutus withdraws second lawsuit filed against the state
- GPHC fires senior doctor over stillbirth
- Despite not paying taxes, Exxon boss says profit sharing and royalty is same as giving Guyana tax
- ExxonMobil makes application for 8th oil project
- After Putin call, Trump says negotiations to end Ukraine war will start ‘immediately’
Former Insurance Manager slapped with $20M Fraud Charge
Charged: Lyndon Stephney
A former Insurance manager has been charged for fraud. Lyndon Stephney appeared on Wednesday before Magistrate Faith Mc Gusty at the Georgetown Magistrates’ Court to respond to allegations of uttering a forged document.
According to the charge, between July 23, 2018 and August 31, 2018 at Georgetown, with intent to defraud, Stephney gave a forged invoice valued at US$92,774 to Arthur Gallagher, for payments made to CHUCKS Enterprise.
The bill valued to the sum of $20,400,000 was for the renewal of insurance policy for JAGS Aviation.
Stephney pleaded not guilty to the charge. He was represented by attorney-at-law Adrian Thompson who asked that his client be placed on reasonable bail.
On July 23, 2018 while working at BK International Stephney allegedly issued several invoices to Esau Samad, Chief Accountant of the company.
The invoices totaling US$92,494 were for the annual insurance policy for Jags Aviation Inc. The court heard that Stephney was responsible for finalising the annual premium insurance policy. However, he issued incorrect invoices to the Chief Accountant of BK International.
The incorrect bill caught the attention of the complainant and a police investigation was launched.
Stephney was later charged for the offence.
During the hearing on Wednesday, Police Prosecutor, Seon Blackman, initially objected to bail being granted to Stephney, citing the nature of the offence and the amount of money involved.
His objections were overruled by the Magistrate Mc Gusty. She released Stephney on $150,000 bail.
The bail is on condition that Stephney lodges his passport with the clerk of court and report every Monday to Brickdam Police Station until the conclusion of his trial.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
An Open Letter to the election observer missions
Peeping Tom… Kaieteur News-Later this year, you will arrive in Guyana as protectors of the integrity of our democracy.... more
OAS Secretary General Election and renewed OAS Consensus
Antiguan Barbudan Ambassador to the United States, Sir Ronald Sanders By Sir Ronald Sanders Kaieteur News- The upcoming election... more
Weekend Cartoon
