CHIEF Magistrate Ann McLennan on Thursday released a 33-year-old construction worker on $50,000 bail after he was charged with two counts of fraudulent conversion.

Claudius Peters of First Street Mocha, East Bank Demerara, was unrepresented by and pleaded not guilty to both charges. The first charge alleged that on July17, 2016 in Georgetown, he received the sum of $274,151.22 from Damalie Wilson to construct the lower flat of her home, however he converted the money to his own use and benefit.

It is further alleged that August 2, 2016 in Georgetown, Peters received $282,800 also from Wilson to construct the lower flat of her home but he converted the money to his own use.

The court heard that Peters is willing to repay the complainant; he told the court that he had $100,000 in his possession to hand over to the woman. The Chief Magistrate then suggested that the accused speak with the Prosecutor.

Police Prosecutor, Alwyn Moore made no objection to bail which was granted by the Chief Magistrate in the sum of $50,000. Peters will return to court on April 24, 2017 before Magistrate Dylon Bess.