A couple and a former employee of Eastern Credit Union were among five people who appeared in court yesterday for allegedly defrauding the institution of over $1.5 million. Darryl Katwaroo, Christopher Tiwari, Clyde Henry and Krishna and Roupatie Maharaj were released on bail after appearing before Magistrate Christine Charles in the Port-of-Spain First Court. They were not called upon to plead to the charges which were laid indictably.
They are accused of being part of a conspiracy to defraud the bank by using fraudulent documents to obtain loans for the purchase of several luxury vehicles. The offences are alleged to have taken place between November 2009 and February 5, the following year. Although the payments for the vehicles were issued by the credit union to people purporting to be legitimate car dealers but there was no transfer of the vehicles.
A report was made to the Fraud Squad, last year after the credit union discovered that the transaction did not take place. The money has since been recovered by police, after several months of investigation by detective Cpl Addison Kistow.
Katwaroo, 37, a former loans officer at the credit union, from Nolan Street, Felicity, was charged with four offences for his role in allegedly approving the loans at the credit union’s branch at Eastern Main Road, Barataria. Katwaroo, who had no prior convictions, was granted $120,000 bail.
Tiwari, a real estate agent, and Henry, a carpenter, were charged with obtaining the loans for the vehicles — a Mercedes Benz, a BMW, a Nissan Navara and a Toyota Fortuner. Tiwari, 32, of Longdenville, Chaguanas, who has pending charges for other fraud offences, is accused of being part of three of the illegal deals. He was granted $200,000 bail. Henry, from Tacarigua, is alleged to have been part of one transaction and was granted $70,000 bail.
The Maharajs, both directors of M & S Auto Dealership in Cunupia, were joinly charged for receiving a payment from the credit union’s account for one of the vehicles. They were each granted $70,000 bail. Police prosecutor Sgt Callistas Charles did not object to bail for the group but he did note that the Fraud Squad’s investigation into the case was still ongoing with more suspects expected to be charged.
Charles also indicated that a State attorney from the Office of the Director of Public Prosecutions (DPP) will have to be appointed to prosecute the case. The group, which was represented by Patrick Godson-Phillip and Rick Ramparas, will reappear in court on March 3.