An ANSA McAL Ltd salesman has been accused of defrauding the company of almost $29 million.
Apollo Manoharlall, of Lot 299 Fourth Street, Alexander Village, who appeared before Magistrate Judy Latchman on five charges of fraudulent conversion, was granted his release on a total of $2 million bail after pleading not guilty.
It is alleged that on five separate occasions in March and April, Manoharlall, 25, misappropriated a total of $22,841,800 that was intended for his employer.
The first charge stated that on March 28, at Georgetown, being employed as a clerk or a servant by ANSA McAL Ltd, he fraudulently embezzled $6,365,000 that was taken into his possession by himself for or in the name of his employer, ANSA McAL Ltd and which was the property of the said company.
Manoharlall also allegedly embezzled $4,560,000 on April 7, $1,900,000 on March 30, $5,596,800 on March 24, and $4,420,000 on March 17.
Police Prosecutor Shawn Gonsalves told the court that Manoharlall was employed as a salesman and was to conduct sales and collect receipts. The money allegedly collected by him were from the Chinese company R&S Investments, which is currently constructing a mall. Prosecutor Gonsalves said Manoharlall would have collected the money from the owner of R&S Investments and never paid it to ANSA McAL Ltd and converted it to his own use instead.
Subsequent to the reading of the five charges, Manoharlall pleaded not guilty. His attorney told the court that he is not a flight risk and is still employed with ANSA McAL Ltd, since he has not been notified of the termination of his services.
The lawyer further stated that Manoharlall had a case before Magistrate Sunil Scarce, however, the matter was dismissed after he repaid the complainant.
Prosecutor Gonsalves made no objection to bail being granted. Subsequently, Magistrate Latchman set bail at $2 million in total, representing $400,000 on each charge.
The matter will be called again on July 17 before the Chief Magistrate.
