JASON Stephaney, a 27-year-old businessman of Greenheart Street, South Ruimveldt, Georgetown, was arrested and charged with the offence of Fraudulent Conversion, contrary to Section 197(1)(b) of the Criminal Law (Offences) Act, Chapter 8:01.

Stephaney, who was arrested on September 19, 2025, is accused of committing the offence between June 2024 and September 2025 at King Street, Georgetown, during which he allegedly fraudulently converted the sum of $22,000,000, police said in a statement.

The accused appeared on Friday at the Georgetown Magistrate’s Court #1 before Acting Chief Magistrate Faith McGusty, where the indictable charge was read to him. He was not required to plead.

He was granted bail in the sum of $300,000 on the conditions that he lodges his passport at the court and reports to the Criminal Investigation Department Headquarters on the last Friday of each month until the matter is concluded.

The matter was adjourned to February 13, 2026, at 09:00 hrs.