A Company Director is on bail after being charged for allegedly trying to fraudulently cash a Government cheque in the sum of $4.8 million.
Terrance Hypolite, 63, of Edinburgh 500, Chaguanas, was charged with uttering a forged document and attempting to obtain $4.8 million dollars from the Government of Trinidad and Tobago by false pretences.
He appeared before JP Babootee at the Woodbrook Police Station on Thursday.
Hypolite was granted bail in the sum of $150,000 and ordered to appear virtually at the Port of Spain Magistrates’ Court on March 25.
It is alleged, the accused went to a commercial bank in Diego Martin on February 17, where he presented a Government of Trinidad and Tobago cheque, payable to his construction business, in the amount of $4.8 million dollars.
He also provided copies of award of contract letters purportedly issued by a special purpose State company to his construction company to undertake infrastructural works at a port project in Toco, which was due to start on March 25, 2021.
The cheque was accepted as genuine by the bank and the proceeds credited ‘on hold’ to the company’s business account subject to verification and processing by the Central Bank of Trinidad and Tobago.
During the processing and verification phase, the Central Bank alerted the commercial bank that the cheque in question.