Man freed of $5M Clico fraud

Michael Kenneth Charles, of Orchard Gardens, Chaguanas, was discharged by Magistrate Ejenny Espinet in the Port-of-Spain First Magistrates’ Court.

Charles was represented by Ravi Rajcoomar, while State attorney Brent Winter appeared for the State.

In 1997, Charles was arrested by members of the Fraud Squad and questioned about an allegation that he attempted to defraud Clico Investment Bank of US $835,664.44 (TT $5.26M). He was arrested around 5 a.m one day and told that the police had a warrant, but he was not released until 18 hours later without being charged.

Charles was kept in a room and he was referred to as the “two million-dollar man” by police officers. He was asked if he wanted to go on an identification parade and he said ‘yes’. But he was never put on the parade. A Justice of the Peace was called and several persons were brought into the room, but still Charles was not put on any ID parade. He was eventually released after his lawyer intervened. Eight years later, on June 9 2005, Charles was arrested as he was about to go to the doctor. He was taken to the Chaguanas Police Station where he was kept for four hours. He was then taken to the Fraud Squad where a warrant was served on him. Charles was charged by Sgt Wayne Mc Farlane of the Fraud Squad with eight counts of fraud. Seven charges related to attempting to defraud while the other was uttering a forged document.

While at the Fraud Squad office, Charles suffered a heart attack and was taken to the Port-of-Spain General Hospital where he was handcuffed to a bed for five days while under police guard. He was eventually released and taken back to the Fraud Squad where he was fingerprinted, taken before a Justice of the Peace and sent to the Port-of-Spain State Prison.

He was later taken before Magistrate Espinet, but was denied bail. He spent 29 days in jail before he was granted bail and released from custody.

During the last two years, the case was called and postponed many times. No evidence was ever taken. State attorney Winter turned up in court and said the evidence did not support the charges and therefore he was not going to proceed with the case.

As a result, Magistrate Espinet discharged Charles ending his ten-year ordeal.