Trader accused of stealing $500,000 raw gold

Gold trader Ryan Nobrega was remanded to prison yesterday after he was accused of stealing over $500,000 in raw gold from a miner.

Nobrega, 60, appeared before Chief Magistrate Priya Sewnarine-Beharry at the Georgetown Magistrates’ Court, where he pleaded not guilty to the charge read to him. Prosecutor Michael Grant submitted that on the 5th of May, Dick Andrews and his father approached the man in Stabroek Market with the intention of selling him the gold. Nobrega, who is known to trade gold in the market, weighed the gold before the two men. However, instead of paying the men, the father of six in the company of an unknown other ran away, according to the prosecutor.

The matter was then reported to the police and Nobrega was subsequently arrested. Grant objected to bail based on the nature and gravity of the crime and also because an investigation into the matter revealed that this is not the first time Nobrega has committed the offence. Grant related to the court that he expects other charges against Nobrega will surface.

Nobrega, who was refused bail, will return to court on May 14th.

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