Grenadian banker on fraud charges
Published:Wednesday | March 25, 2009 | 6:16 PM
The head of the Capital Bank International in Grenada, Finton Debourg, has been arrested on fraud charges.
Debourg has been charged with two counts of fraud and four counts of falsifying documents.
Six months earlier the director of public prosecution, Christopher Nelson, dismissed similar charges against Debourg because of a lack of sufficient evidence.
Investigations by the Grenadian Financial Intelligence Unit revealed that there were signs of fraudulent appropriation of funds amounting to more than US$5.9 million.
Debourg has been ordered to surrender his travel documents and to appear in court on May 25, after being released on US$337,000 bail.