A man was yesterday charged with stealing tens of millions in raw gold from a mining consultancy.
Desmond Singh was granted bail in the sum of $250,000 after pleading not guilty to the charge when he appeared at the Georgetown Magistrates’ Court.
It was alleged that between June 28, 2012 and August 2012, Singh stole 110 ounces of raw gold, valued at $32 million, property of Carl David and Clarence Mining Consultancy.
Singh’s attorney, in her bail application, asked Chief Magistrate Priya Sewnarine-Beharry for bail to be set in a reasonable sum, since he is currently unemployed and the alleged stolen gold was never found on him.
Counsel further said that her client is not a flight risk, since he resides at Eccles and he has no pending or previous matters before the court.
The lawyer also informed the court that her client was placed on $100,000 station bail and has been cooperating with the police investigations.
When the prosecution was asked by the magistrate if there were any objections to bail, Police Prosecutor Kerry Bostwick responded in the negative.
But Bostwick asked that bail be set in a substantial sum taking into consideration the value of the item mentioned in the charge. He also asked that the accused be made to report to the Brickdam Police Station and lodge all his travel documents with the police.
The magistrate after listening to submissions from counsel and the prosecution granted Singh bail in the sum of $250,000.
He was ordered to report to the Brickdam police station, fortnightly on Fridays to Constable Seeram.
His matter will be called again on March 1.
