A BUSINESSMAN who was convicted twice for fraud, was back in court on Friday for allegedly committing a similar offence while his employee was granted $300, 000 bail for his alleged role in the crime.

Sixty-two-year-old Clayton Allen, who is the chairman of the Micro Business Developers and Consultancy Company and fifty-nine-year-old Norbert Bailey, appeared before Senior Magistrate, Leron Daly, at the Georgetown Magistrates’ Court.

The duo denied that between November 2, 2021, and July 18, 2022, at Georgetown, with intent to defraud they obtained $1.1 million from Lindell Toney by falsely pretending that they were in a position to grant her a $45 million loan.

Police Prosecutor Christopher Morris strongly objected to the duo being released on bail citing that there is an ongoing police investigation into the alleged scam which is likely to lead to more charges being laid.

Morris further told the court that Allen was sentenced to 48 months in 2017 for defrauding another woman. The following year he was sentenced to 36 months for a similar crime.
Additionally, Bailey was charged back in 2015 for forgery and simple larceny.

Allen’s attorney, Dexter Todd, informed the court that he had appealed his client’s conviction and sentencing. This matter is still ongoing and Allen is out on bail pending the outcome of his appeal.

Additionally, Todd said that Allen’s business has a mandatory 6 per cent processing fee for loan applications which amounted to the $1.1M the victim paid.

The attorney informed the court that Allen’s company was having some minor problems since there were some issues with his bank.

The magistrate subsequently remanded Allen to prison and released Bailey on $300,000 bail. The matter is adjourned until October 14.

According to reports, Allen’s company would lure persons by duping them into believing that it is a legitimate money-lending institution and that in order to borrow money, they would have to pay down a percentage of the amount they wanted.

Upon handing over that down payment, the victims were issued a receipt and asked to return later to complete the transaction.

However, upon their return, they were given “bounced” cheques.