Bond on bail for Peter’s Hall land giveaway scandal - Fraud charges expected soon

Bond on bail for Peter’s Hall land giveaway scandal – Fraud charges expected soon

Nov 28, 2020 News

James Bond hugging PNCR Chair shortly after being released from the CID

Kaieteur News – An elated James Bond was yesterday released on $200,000 bail after being held by police as investigations continue into the Peter’s Hall land giveaway scandal.
Bond posted to his Facebook page, minutes after, quoting lyrics from Sizzla Kalonji’s ‘Solid as a rock’ with an image of him hugging PNCR Chair, Volda Lawrence.
However, his jubilation may be short lived as Kaieteur News understands that the senior People’s National Congress Reform (PNCR) member will soon be facing fraud charges.
He was reportedly asked to return to the Criminal Investigation Department (CID) Headquarters at Eve Leary on Monday.
Bond, also an attorney, is at the center of controversy regarding his involvement in a multi-million dollar land give away scandal involving prime state property at Peter’s Hall, East Bank Demerara.
He is accused of being the mastermind behind land deals which saw 30 acres of state land being transferred to Chinese national, Jianfen Yu. Not only that, Bond was said to have also pocketed more than $120 million from both deals.
He was fingered by two businessmen embroiled in the scandal – Life 1 Pharms Inc. Director, Avalon Jagnandan; and Director of A-Z Pharmaceuticals Medical Supplies and Equipment Inc., Eddie Doolal. Kaieteur News was informed that the businessmen and Bond had a confrontation on Wednesday.
While in police custody, Doolal and Jagnandan reportedly told police that not only was the PNCR senior member the brains behind the operations, he also received a hefty payoff from both deals, amounting to more than $100 million.
Jagnandan and Doolal both leased from the state-owned National Industrial and Commercial Investments Limited (NICIL) 15 acres of land situated at Plantation Peter’s Hall, East Bank Demerara.
Kaieteur News discovered that both land deals carried glaring similarities.
Both companies were registered on March 1, 2017 and the lease agreement details for both companies were also identical – both agreed to pay US$11,700 plus tax in lease fees annually for a 20-year period; both received 15 acres in total and both agreements were signed on the same day – May 17, 2018.
This paper also discovered that both companies transferred its lands to Yu, on the same day – January 28, 2020 and for the same price of G$100. Those details would align with what was reportedly told to investigators by the businessmen.
Both businessmen relayed to police that it was Bond who encouraged them to startup companies and apply to NICIL to acquire lands. Later on, Bond was said to have played a hand in the NICIL transaction and penned lease agreements for the businessmen. Bond was said to also have encouraged the men to transfer the state lands at a price. Bond reportedly also found the buyer, Jianfen Yu, whose address is listed as 43 Wellington Street, Georgetown.
Instead of the businessmen receiving the funds from the sale, sources said that it was Bond who demanded to receive 50% of the payment for the land and both businessmen reportedly handed Bond close to $100 million.
That was not the only land deal that Bond also allegedly benefited from.
Kaieteur News would have reported that Bond received a US$1 million payment from Trinidad logistics company, Lennox Petroleum, for the sale of 10 acres of land leased to ARKEN Group Inc.
In that deal, ARKEN and its principal, Jermaine Richmond, leased from NICIL 20.8 acres of land at Peter’s Hall on May 9, 2018 for a 20-year period at US$16,224 per year. ARKEN later sold the 10 acres to local logistics company GLASS Holdings Inc. on October 10, 2019 for $200M.
Like the other deals, instead of the principals of the companies receiving the payment, it was Bond who pocketed the funds. Documents received by Kaieteur News showed that the monies were sent directly to a local bank account with Bond’s name as the receiver. Richmond, a one-time employee of Bond, is wanted by the police in relation to the deal but has so far not been detained.