FORMER accountant at the Guyana Rice Development Board (GRDB), Peter Ramcharran, was, on Tuesday, February 11, 2020, handed a three-year jail term for fraud committed at the rice entity.
The sentence was handed down by Chief Magistrate Ann McLennan at the Georgetown Magistrates’ Court. The charge stated that Ramcharran omitted $145M from the organization’s ledger.

The Magistrate stated that the court was satisfied, beyond reasonable doubt, that Ramcharran acted dishonestly, and therefore did not believe his testimony. The court also believed that he intended to defraud the GRDB. Chief Magistrate McLennan further stated that the evidence presented by Special Prosecutor Patrice Henry was satisfactory.
Attorney-at-law Nigel Hughes, who represented Ramcharran told the court that his client had a flawless criminal record, and the monies were not lost, but just not recorded.

Chief Magistrate, in handing down the sentence stated that the court took into consideration the serious nature of the offence and the amount of money involved. Hence, she sentenced him to three years in prison.

However, Ramcharran is still facing multiple charges at the Georgetown Magistrates’ Court and is expected to make his next appearance on February 28, 2020, for the commencement of his other matters.

Ramcharran was extradited from Canada last March after an arrest warrant was issued for him for fraudulently converting over $400M, property of the GRDB.
He was on remand after 39 charges that were deemed indictable, were listed against him in the court. The charges included falsification of accounts and converting money to his own use and benefit.

The offences dated back to 2011-2015 at the GRDB head office, Lot 16 Cowan Street, Kingston, Georgetown.