Accused in $93 million bank scam granted bail, returns to court in autumn

A defendant arrested in connection with a multi-million-dollar fraud against a major Jamaican financial institution has been released on bail with strict conditions.

Accused in $93 million bank scam granted bail, returns to court in autumn

A defendant arrested in connection with a multi-million-dollar fraud against a major Jamaican financial institution has been released on bail with strict conditions.

Ricardo Dennis was taken into custody as part of a wider probe already involving multiple suspects. He appeared before the Kingston and St Andrew Parish Court, where he faces allegations of plotting to cheat the bank, moving illicit funds, and holding proceeds of unlawful activity. Authorities contend he pocketed $9.2 million from the overall scheme.

During Tuesday's hearing, prosecutors requested that the magistrate reconsider the terms of his release. Judge Peter Wilson advised the defendant to retain counsel, stressing the gravity of the accusations. Dennis maintained he never collected any cash.

The tribunal set his bond at $900,000, backed by one or two guarantors. He must sign in at a police station three times per week, hand over his passport, and is barred from leaving the island. His next appearance is scheduled for September 11.

Source: Jamaica Observer

Source: Jamaica Observer