Controversial businessman Rudolph King was remanded to prison yesterday on allegations that he defrauded the General Post Office bank of more than $600,000 and laundered the money during a three-year period.
King, 51, of London Avenue, faced five counts of fraud by false pretenses and five counts of money laundering when he appeared before Senior Magistrate Derence Rolle-Davis.
Prosecutors allege that between 2012 and 2015, King received $632,416 through fraud.
It is alleged that at separate times during the charged period, King received $125,688; $243,225; $151,252; $9,437 and $102,814.
He is accused of laundering the money, which represented the proceeds of crime.
King pleaded not guilty to all charges and was denied bail.
Damian Gomez, QC, who represents King along with Monique Gomez and Leon Bethell, told the court that he hoped to make a bail application in the Supreme Court to “avert my client spending the night in prison unnecessarily”.
However, The Nassau Guardian confirmed King was remanded to prison after his lawyers were unable to get an emergency bail application.