DAVID Montague, 41, of Lot 283 West Ruimveldt, Georgetown, appeared before Acting Chief Magistrate Melissa Robertson yesterday and pleaded not guilty to four charges of fraudulent conversion.
Particulars of the offences said the defendant on:
* March 18, being solely entrusted with $122,000, by Godfrey Bovell, to purchase mechanical parts, converted the money to his own use and benefit;
* February 9, being solely entrusted with $278,000, by Bovell, to purchase mechanical parts, converted the cash to his own use and benefit;
* December 18, 2009, being solely entrusted with $100,000, also by Bovell, to purchase mechanical parts, converted the sum to his own use and benefit and
* January 7, being solely entrusted with $50,000, by Bovell, too, to purchase mechanical parts, converted the money to his own use and benefit.
Attorney-at-law Mr. Patrice Henry, representing Montague, submitted that the defendant has an unblemished record and was contracted by the virtual complainant to do mechanical work.
Police Inspector Stephen Telford, prosecuting, expressed fear that the defendant may flee the jurisdiction if he is granted bail but the magistrate overruled his objection and ordered Montague to lodge $375,000  surety, before transferring the case to another Court for April 29.
Another fraud defendant, Looknauth Chan, 28, of Lot 172 Montrose, East Coast Demerara, was also allowed bail in the sum of $400,000 and his case was transferred to another Court, as well, for April 30.
It is alleged that Chan, being solely entrusted with $3M, by Nerisha Thornhill on May 9, 2009, to purchase seafood, converted the money to his own use and benefit.
After he pleaded not guilty, Defence Counsel Vic Puran said the allegation was made a while ago but the virtual complainant never proceeded with the case.
The lawyer said it was a matter of a contract between Chan and Thornhill and the former should not have been charged with fraudulent conversion.