The 27-year-old businessman who reportedly lost his $5M SUV has confessed to staging the incident in order to get insurance money.
It was reported that on Wednesday night, the man parked the motor vehicle on the western side of Alexander Street, leaving the key in the ignition.
He then went into the restaurant to collect a food. Upon his return, he discovered that the vehicle was missing.
However, Police said the man since confessed that he staged the incident because he was frustrated with his insurance company.
The man explained that after he was involved in an accident with the vehicle, the insurance company refused to pay him for the damages.
As such, the businessman said the plan was to destroy the vehicle to get the insurance benefit.
The vehicle was recovered abandoned at Ogle, East Coast Demerara.
The man was arrested and placed into custody.
