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Fraud, money laundering suspect granted bail

A businessman accused of defrauding the Securities Commission of $850,000 and then laundering the money was granted emergency bail by a Supreme Court judge on Tuesday.

Jeremy Eugene Pinder, 41, of Lower Bogue, Eleuthera, was remanded to prison on Monday after he was charged with conspiracy to commit fraud by false pretenses and 20 counts of money laundering. Supreme Court Justice Guillimina Archer-Minns released Pinder on $50,000 bail pending trial.

Prosecutors allege that Pinder ripped off the Securities Commission of the Bahamas with a fraudulent check.

After the check cleared, Pinder allegedly laundered over $800,000 by moving the money out of the country between January 27 and February 6.

Then, Pinder allegedly laundered $49,600 by making cash withdrawals from the Royal Bank of Canada.

Pinder pleaded not guilty to one charge of fraud by false pretenses, conspiracy to commit fraud by false pretenses and 20 counts of money laundering at his arraignment before Chief Magistrate Joyann Ferguson-Pratt.

Ferguson-Pratt adjourned the matter to April 1.

On that date, Pinder will learn which magistrate will hear the case.

Dion Smith represents Pinder.

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Artesia Davis

Artesia primarily covers court stories, but she also writes extensively about crime.

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