Two men who allegedly obtained $2,030,000 by fraudulent means from Republic Bank (Guyana) Limited were yesterday placed on $300,000 and $400,000 bail respectively when they were taken before the Georgetown Magistrate’s Court.
Mahendra Nauth Khusial, 19, of 54 LBI, East Coast Demerara and Shankar Jaggernauth, 21, of 125 Atlantic Gardens, also on the East Coast Demerara, both pleaded not guilty to all ten charges when they were read to them by Magistrate Melissa Robertson-Ogle.
It is alleged that between October 5, 2007 and February 7, 2008 Khusial and Jaggernauth with intent to defraud Republic Bank (Guyana) Limited presented the bank with withdrawal slips purportedly signed by its clients for the withdrawal of various amounts from their accounts.
Attorney-at-law Adrian Thompson, in defence of his client Khusial, said that it is a case where the defendant as an employee of the bank had conducted a transaction on its behalf which caused it to suffer a loss. Consequently, Khusial has been held responsible for that loss. Thompson also made an application for reasonable bail.
Jaggernauth’s attorney K. Juman Yassin told the court that his client and Khusial were schoolmates. He said his client had loaned Khusial a sum of money and according to him Jaggernauth had also given Khusial particulars of his account which he had at the same bank. Yassin stressed that his client Jaggernauth was unaware of any transactions concerning the sums in question.
Khusial and Jaggernauth were each placed on $300,000 and $400,000 bail respectively and the matter is to continue on March 5 in Court One.
