TONEY Ramnarine, a merchant of Lot 6 East Lusignan, East Coast Demerara, was yesterday arraigned in city magistrate Ann McLennan’s court on two charges of fraudulent conversion.Particulars of one charge detailed that during the month of August, at Water Street, Georgetown, he was solely entrusted with a quantity of body wash articles and male and female clothing valued at $200,510 by virtual complainant Komal Chan to resell and return the proceeds to him, but he fraudulently converted the money to his own use and benefit.

The other charge detailed that between April 1 and September 4, at Regent Street Georgetown, Ramnarine was entrusted by Ranita Pariah with a quantity of gift sets valued at more than $100,000 to resell and return the proceeds to him, but he fraudulently converted the money to his own use and benefit.

In addressing the court, the defendant admitted that he was given the goods by the two complainants for resale, but he said that because of the hardship of the market, he was unable to get all of the items sold, and he did not steal the moneys involved.

Police Prosecutor Deniro Jones did not object to bail being granted the defendant, and bail was set at $50,000. The magistrate then scheduled the matters before Magistrate Fabayo Azore in Court 05 for October 09.
(Clestine Juan)