A MAN said to be president of the forestry company, Emerald Forest Inc. was on Wednesday granted bail in the sum of $150,000 on two counts of fraudulent conversion. 

Jagdesh Mangal, 27 of Lot 51 Belmont, Mahaica,East Coast Demerara, pleaded not guilty to both counts when it was read to him by Magistrate Ann McLennan at the Georgetown Magistrates Court.
The first count said that on November 22 at Lot 155 Kubari Street, Ituni, Upper Demerara River, being solely entrusted by Charlotte Wilson with the sum of $280,000, in order that he purchase one M931- A1 transformer case for a motor lorry, he converted the said cash to his own use and benefit.
Particulars of the other count said that on November 12 at Robb Street, Georgetown, also being solely entrusted by Charlotte Wilson with the sum of $400,000, in order that he purchase one M931- A1 transformer case for a motor lorry, he converted the said cash to his own use and benefit.
Representing Mangal was attorney-at-law Mr. Mohamed Zafar,who requested bail for the father of one stating that he already had been placed on $50,000 station bail.
According to the defence counsel, his client has cooperated with the police throughout the investigation and strongly denied the allegation against him.
Police Prosecutor Dinero Jones did not oppose bail on either count.
As it relates to the offence allegedly committed in Ituni, the case was transferred t the Kwakwani court for January 16.
The case pertaining to the second count allegedly committed in the city, will be heard before Magistrate Judy Latchman on January 8. However, Mangal was ordered to post $75,000 surety on each count.