A man was yesterday charged with fraudulent conversion after he could not repay over $400,000 that he allegedly misused.
Abune Welcome, 36, of Kuru Kuru, Soesdyke-Linden Highway, told Magistrate Annette Singh, before whom he appeared, that he was not guilty.
The charge stated that on December 7, 2010, in Georgetown, being solely entrusted by Lorna Adonis with $430,000 to deliver to Haydock Baggot, Welcome fraudulently converted the same to his own use and benefit.
Prosecutor Adduni Inniss told the court that an agreement was made between the Welcome and Adonis for him to repay the money within a specified timeframe, but Welcome did not repay the money as agreed.
There was objection to bail by the prosecution based on the nature of the offence, but the objection was overruled and Welcome was released on $100,000 bail on the condition that he report to the Timehri Police Station every Friday.
The matter was adjourned to April 13 for the filing of statements.
