MICHAEL Williams, 47, pleaded guilty to fraudulent conversion yesterday but Acting Chief Magistrate Priya Sewnarine-Beharry postponed sentence pending a probation report. The convict admitted that, on November 15, 2010, having been entrusted with $100,000, by Nazim Prashaw, to purchase scrap metal, he fraudulently converted the money to his own use and benefit.
Williams (no address given) confessed he collected the cash but said he used $80,000 because he was not feeling well.
He claimed he gave the virtual complainant $20,000 and is willing to repay the remainder.
But the magistrate put him on $50,000 bail until February 18.