Magistrate Leron Daly earlier today found former Deputy Chief Executive Officer (DCEO) of the Guyana Power and Light (GPL), Carvil Duncan not guilty of theft after it was ruled that a prima facie case had not been established against him.

Duncan, who is also a former Director at GPL, and the company’s then CEO Aerswar Deonarine, found themselves in trouble over the unapproved transfer of approximately $29M to their personal bank accounts from the PetroCaribe fund.

It was alleged that Duncan stole $984,900 from GPL on March 31, 2015 at Georgetown after conspiring with the company’s then CEO, Aerswar Deonarine to commit the act of simple larceny. The former DCEO was also alleged to have conspired with Deonarine to commit a felony – that is to say between May 7 and 8 at Georgetown he conspired to steal GYD$27,757,500, property of GPL.

And while he was charged and placed on $1M bail in January, the whereabouts of Deonarine is still yet unknown.

However, while Duncan walks free from the theft charge, he still faces the charge of conspiracy to steal. The former DCEO is expected to face trial on January 4, 2017 for the conspiracy charge involving him and Deonarine.