By: Deneita Fredericks
PETER Ramcharran, 39, was yesterday granted bail in the High Court by Justice Navindra Singh for embezzling over $400 million from the Guyana Rice Development Board (GRDB).

The former GRDB accountant appeared before Chief Magistrate Ann Mc Lennan on Wednesday at the Georgetown Magistrates’ Court on 39 charges that are being taken indictably. These charges included falsification of accounts and converting money to his own use and benefit. The offences date back to 2011-2015 at the GRDB head office, Lot 16 Cowan Street, Kingston, Georgetown.

His bail application was granted in the sum of $10,000 on each charge, totalling $390,000. The defendant was bailed and will appear back at the court at a later date.