A Santa Cruz man has been granted $600,000 bail after appearing in court charged with Money Laundering and Obtaining a Valuable Security by False Pretences.
The TTPS says in August 2012, 45-year-old Stefan Steede was contracted by the Couva/Tabaquite/Talparo Regional Corporation to purchase and deliver a quantity of items.
An invoice was submitted and the accused tendered a payment of $297,000, however the items were neither purchased nor delivered to the Corporation.
Attempts to obtain a refund were futile and it was later discovered that the accused allegedly ‘laundered’ the money via over the counter transactions, ATM withdrawals and point of sales payments.
A report was made to the Anti-Corruption Investigation Bureau, with an investigation carried out between 2020 and 2022.
Steede was arrested and appeared before Couva Magistrate Alexander Prince on December 1st.