CHAIRMAN of Micro Business Developers and Consultant Incorporated, Clinton Allen accused of swindling over $1.6M from three persons was on Tuesday charged with fraud.

Allen, 56, of South Better Hope, East Coast Demerara appeared before Chief Magistrate Ann McLennan and denied the three obtaining money by false pretense charges when they were read to him.

Particulars of the first charge alleged that Allen, between January 31 and February 8, at Sherriff Street, Georgetown, with intent to defraud, he obtained the sum of $516,000 from Samuel Manoo by falsely pretending that he was in a position to grant a $4M loan to him.

It further alleged that Allen, between November 3, 2016 and December 29, 2016 at Sherriff Street, Georgetown, with intent to defraud obtained the sum of $700,000 from Lorelai Lalchan by falsely pretending that he was in a position to grant a $5M loan to him.

Thirdly, it is alleged that Allen, between November 4,2016 and December 9,2016 at Sherriff Street, Georgetown, with intent to defraud, obtained the sum of $415,000 from Lorelai Lalchan by falsely pretending that he was in a position to grant a $3.4M loan to him.

According to Police Prosecutor, Arwyn Moore, the charges stemmed from an alleged major fraud operation surrounding the Micro Business Developers and Consultant Incorporated. Moore pointed out that the accused’s business would lure persons as a money-lending institution, which would require persons to pay a down payment or percentage of the money they are desirous of acquiring.

The victims, Moore noted, would be issued a receipt when handing over their down payment and would be asked to return later for their loan. However, persons would be given the royal runaround and would often be issued a cheque which would be rejected by the bank.

Moore had objected to the accused being released on bail on the ground that that Allen might flee the jurisdiction or tamper with the witnesses. The Magistrate ruled in the prosecution favour and remanded Allen until May 16.

The prosecution further noted that the chairman is currently out on $400,000 bail for obtaining from Jeetendra Ram of Fantasy Auto Sales six motorcars valued $26,300,000, under or by virtue of forged Republic Bank Ltd cheques during the month of December 2016. The charge was read to him on March 09, 2017 and he denied the offence. However, his bailer in that matter, who was present on Tuesday, signaled his intention to the court for his bail money to be returned to him. The Magistrate revoked the bail and ordered that the money be returned to the bailer.