Iqwaz Arakhan, the businessman who was charged last month with obtaining $14.5 million in credit through fraud, had all the charges against him dismissed yesterday after the complainant opted to offer no evidence.
Arakhan, 28, of Eccles, East Bank Demerara, who owns a spare parts store, was read seven fraud charges when he was arraigned on May 4.
It was alleged that he obtained credit by fraud by way of a Bank of Nova Scotia cheque in the name Fareed Yusuf, dated May 31, 2016 in the sum of $2 million, knowing that he did not have the funds.
There were five similar charges read to him involving similar sums, for cheques that were dated from April to October, 2016. Another charge that was read related to the sum of $2,500,000, for a cheque dated September 30, 2015.
When the matter was called yesterday before Chief Magistrate Ann McLennan, the court heard that the complainant in the matter no longer wished to offer any evidence against Arakhan.
As a result, the charges were dismissed by the Chief Magistrate.
