[www.inewsguyana.com] – Twenty – four – year old Floyd Allen of Cummings Lodge, East Coast Demerara appeared before Chief Magistrate Priya Beharry charged with embezzlement. Allen pleaded not guilty to the charge which read that between March 31, 2012 and February 12, 2013 he embezzled $14.1 million property of Hand In Hand Group of Companies.
Police prosecutor Bharrat Mangru told the court that the accused was employed with the Company as an Accounts Clerk, who was tasked with various responsibilities which includes checking of cash and cheques and payments made by the company policy holders.
However, the accused converted the money collected from the policy holders into his own use. Attorney – at – law Peter Hugh represented the accused and while making an application for bail told the court that his client was placed on $100,000 station bail pending an investigation.
He also told the court that he has no intention of fleeing the jurisdiction since his passport has been lodged with his previous employer.
The Magistrate granted the accused bail in the sum of $500,000 on the grounds that he report to the C.I.D headquarters every Friday. Floyd Allen is expected to return to court on November 24. [Royan Abrams]
