A man accused of stealing $14 million from the Hand-in-Hand Group of Companies was yesterday placed on $500,000 bail when he appeared before Chief Magistrate Priya Sewnarine-Beharry. Floyd Allen, 24, of lot 927 Cummings Lodge, East Coast Demerara, pleaded not guilty to the charge when it was read to him at the Georgetown Magistrates’ Court.
It was alleged that between March 31, 2012 and February 12, 2013, being employed as a clerk, he stole the sum of $14,100,000 from Hand-in-Hand Group of Companies.
Attorney Peter Hugh who represented Allen said that his client currently works at Wartsilla, has never had any trouble with the law and has no pending matters in court. He said Allen is not a flight risk and added that his client’s passport is currently in the possession of Hand-in-Hand. Hugh made an application for reasonable bail to be granted since Allen has been cooperating with the police. He said that Allen was also previously placed on $100,000 station bail.
Prosecutor Bharrat Mangru did not object to bail being granted but suggested that a condition be attached to bail.
Magistrate Sewnarine-Beharry granted bail in the sum of $500,000 under the condition that Allen reports to the Criminal Investigations Department (CID), every other Sunday, commencing on October 27.