High Court overturns “excessive” $1.2M bail for money borrower
A Montrose man, placed on $1.2M bail on a fraud charge, had that slashed to $20,000 after his lawyers turned to the High Court claiming that it was excessive.
Attorney-at-law, Euclin Gomes of Nandlall and Associates, successfully argued that 30-year-old Ravindra Persaud should not have been charged criminally since the matter was a civil one.
Yesterday, Chief Justice (ag), Ian Chang, agreed that the $1.2M bail was too much.
According to affidavits filed, the father of two was arrested earlier this month on the Montrose Sea Wall by policemen. He was taken to the Sparendaam Station and charged with the offence of fraudulent conversion. The particulars of the charge alleged that Persaud fraudulently converted $950,000, property of Robin Somar.
Persaud pleaded not guilty to the charge during that June 10th court appearance and Magistrate Judy Latchman had granted him bail to the tune of $1.2M.
Gomes argued that the amount of bail set by the Magistrate was excessive and Persaud was unable to post bail.
Persaud claimed in sworn affidavits, that he never fraudulently converted any money given to him by Somar.
“…that by a written agreement entered into on the 29th day of December, 2010, Ravindra Persaud borrowed from the virtual complainant the sum of nine hundred and fifty thousand ($950,000.00).”
He also claimed that he failed to repay the money or the interest before the agreed deadline of January 24th, 2011.
“…that consequent upon the non-payment of the loan as agreed the V.C (Robin Somar) contacted the police. That I am informed by Mr. Euclin Gomes, Attorney-at-law and verily believe that this is a matter which ought to be ventilated in a civil court.”