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Serial fraudster who obtained $30M by false pretense jailed for three years
Kaieteur News- Serial fraudster Dave Rajeshwar Persaud also known as ‘Dave Persaud’ was jailed on Friday for three years for obtaining $30M by false pretense, when he appeared at the Friendship Magistrates’ Court.
Persaud was found guilty by Magistrate Wanda Fortune.
Jailed: Dave Rajeshwar Persaud also known as ‘Dave Persaud’.
The Guyana Police Force via its Facebook Page said that “The charge was instituted by the Special Organised Crime Unit (SOCU) after several reports of financial crimes and money laundering were made to SOCU.”
The charge read that between September 4th and 8th 2023, Persaud with the intent to defraud, obtained from the complainant “the sum of thirty million Guyana Dollars ($30,000,000) by falsely pretending that he would invest the said sum into his business ‘Dave Persaud Investment Company’ and provide the complainant with fifty percent (50%) profit, that is, fifteen million dollars within two (2) weeks period.”
According to the statement, the circumstances that led to his conviction revealed that he visited the complainant’s East Bank Demerara premises to rent the said property at the beginning of August 2023.
He related that he was a businessman, who imports groceries to sell to supermarkets or shops and that he was also the owner of an auto dealership. Subsequently, he convinced the complainant to encourage other members of the community to invest in his business called ‘Dave Persaud Investment’, where they will benefit from 50-80% profits. However, none of his claims were true.
“In September 2023, the complainant obtained the sum of thirty million Guyana Dollars ($30,000,000) from her deceased husband’s life insurance policy and Persaud induced her into investing the said sum of thirty million Guyana Dollars ($30,000,000.00) into his fictitious business in return for a 50% profit, that is, $15,000,000 (fifteen million Guyana dollars) profit within two (2) weeks,” the police said.
Once the timeframe provided had expired, she questioned Persaud about her returns on her investment, however she was unable to recover the money invested in the ponzi scheme.
Head of the Special Organised Crime Unit (SOCU) Deputy Commissioner Fazil Karimbaksh, said that during between September 2023 to April 2024, there were efforts made by SOCU to locate and apprehend Persaud also known as ‘Raj Persaud or Dave Persaud’ on charges associated with money laundering and other serious financial offences committed within Guyana.
“Mr. Persaud, however, during this period, had fled the jurisdiction to neighbouring Brazil and a ‘wanted bulletin’ was issued for his arrest by SOCU and he was later apprehended and charged,” the statement said.
In June of last year, he was charged with the offence of Obtaining by False Pretense and was remanded to prison.
Magistrate Fortune found that all the elements for the offence were properly established, and Persaud was guilty.
The matter was prosecuted by Prosecutor(s) Aaron Daniels and Neville Jeffers of the Special Organised Crime Unit.
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