The two American males and a Bahamian man arrested in connection with a fraudulent $52 million cheque were granted $20,000 bail each yesterday after they were arraigned on the charges of possession of forged documents, uttering a false document and attempted fraud by false pretences.
But the men maintained their innocence.
Michael Gabriel, 61, of Miami, and John Delph, 71, of Ohio, were taken into custody last week Thursday after attempting to deposit the cheque from the Central Bank of Nigeria into an account at the First Caribbean International Bank on Shirley Street.
Augustus Pinder, 39, of Amaryllis Avenue, Garden Hills number one assisted the men in trying to deposit cheque number 014884, according to court documents.
Authorities charged that Pinder was the driver for his alleged accomplices who were believed to have been tied to a notorious scheme called the 419 Nigerian fraud.
Pinder was granted bail in the amount of $20,000 with two sureties, while Gabriel and Delph were required to pay a cash amount for their release.
All three of the accused pleaded not guilty to the fraud charges and were scheduled to return to court October 12 for another hearing on the matter.
Attorneys Cecil Hilton and Murrio Ducille represented the Americans in court.
The Nigerian fraud network, classified as an advanced fraud scheme, baffled police internationally and locally for several years as they tried to pinpoint the source of letters sent over the Internet pitching investment proposals.
Local authorities have admitted that their investigations, until now, had led them on a wild goose chase.
In the Internet letters, which apparently originate from Nigeria, the individual introduces a business proposal to people of means requesting that they also transfer, in some instances, $120,000 to a Nigerian account for a private investment.
Lucrative returns are promised as an added attempt to lure investors. The letter also requests personal information from the individual including bank account information.
The deal is sealed after the money is transferred to the Nigerian account, police said.
By: Bianca Symonette, The Bahama Journal
