A former clerk was yesterday charged with embezzling $2.6 million from John Fernandes Limited.
Glenroy Joyce, 34, Lot 39 Public Road Vergenoegen, East Bank Essequibo, was brought before Principal Magistrate Judy Latchman, who read the fraud charge to him in a Georgetown court.
The charge alleged that Joyce, between the months of July, 2017 and August, 2017, at Mandela Avenue, while employed as a clerk/servant at John Fernandes Limited, fraudulently embezzled the sum of $2,650,000, taken into possession by himself for, in the name of, or on account of the company.
Joyce denied the charge.
Police prosecutor Arvin Moore made no objection to bail being granted.
Attorney Dexter Todd, who represented Joyce, told the court that his client had an oral agreement with the company as it relates to repayments of the funds. He noted, however, that Joyce would have fallen behind on his payments, missing a month, as a result of which the company proceeded with the legal action.
The prosecutor noted, however, that there was no indication of any agreement made between the defendant and the company in the case file.
Magistrate Latchman subsequently requested that a representative from the company be called to shed light on the matter.
Sometime later, the matter was recalled and a representative from John Fernandes Limited told the court that he was unable to locate any written agreement between the company and Joyce.
Subsequently, the magistrate granted the accused $100,000 bail and adjourned the matter until April 6th, when it is expected to be heard by the Chief Magistrate.