Bulgarians fined $104,000 for bank fraud

Dimitri Georgieu, Toncho Tonchev, Daniel Nedelchev and Emil Mihalev all stood before Magistrate Christine Charles in the First Court having pleaded guilty on Wednesday and instructed to return to court yesterday, to face facts and sentencing.

Georgieu was charged and convicted for possession of card making equipment. He was fined $25,000 or in default, three years’ imprisonment with hard labour.

He was ordered to pay $15,000 immediately and granted up to July 28, to pay the balance.

Tonchev was fined $15,000 for possession of card making equipment. He was ordred to pay $10,000 forthwith and the rest on or before July 28. The two men were chargedon June 26.

Nedelchev and Mihalev were jointly charged on July 4 and convicted of possession of card making equipment and were each fined $25,000 or three years’ imprisonment with hard labour.

They were each ordered to pay $15,000 of their fines immediately.

They were both found guilty of malicious damage to Republic Bank property and each fined $5,000 or in default, nine months in prison with hard labour.

They were convicted of larceny and each fined $2,000. In addition, both men were also ordered to compensate Republic Bank in the sum of $1,050. Charges were laid by WPC Efaye Jointe of the Fraud Squad. Newsday understands that a translator had to be found so that the accused men could understand the facts as presented in court and the sentence meted out to them.

Tonchev and Georgieu were arrested at a bank in Price Plaza, Piarco after the bank’s customers reported seeing them tampering with one of the ATM machines.

The others were arrested at a guest house in Maraval.