LOOKNAUTH Chan, 28, of Lot 196 Montrose, East Coast Demerara, was ordered to post $600,000 bail yesterday on a fraud charge.

Before Acting Chief Magistrate Melissa Robertson, he pleaded not guilty to having been entrusted, between April 1 and May 19, 2009, with $3.3M to purchase seafoods for export to Lenox Narine, converted the money to his own use.

Defence Counsel Vic Puran contended that the matter surrounds a contract and is not a criminal case.

He said Chan has already bought a quantity of the merchandise but the remainder of the catch has not yet come in.

The case will be called again on November 11.