Ponzi scheme accused, Phylicia Jallim, a former Branch Manager of NAFICO and of 22 Welcome Street, Rosignol, West Bank Berbice and 103 Thomas Street, Kitty was yesterday slapped with seventeen fraud charges amounting to 288.8 million dollars.
The charges were laid by the Special Organised Crime Unit (SOCU). A police statement said that Jallim appeared before Magistrate Peter Hugh at the Blairmont Magistrate’s Court where sixteen charges were read to her that she obtained, by false pretence, $283m and one count of fraudulent misappropriation amounting to $5.8m. She was granted bail in the sum of $100,000 per charge despite strong objections by the police prosecutor. The matter was adjourned to June 19th for statements to be filed in only one matter as the other 16 matters are indictable in nature.
