Farm Resident on $100K bail for Money Laundering
— linked to $343M theft from Health Ministry
November 25 2024 – Terrence Williams of Farm, East Bank Demerara (EBD), was granted $100,000 bail on a money laundering charge last Friday at the Georgetown Magistrates’ Courts.
It is alleged that 26-year-old Williams knowingly conducted a transaction involving a Volkswagen motor car valued at $3M, utilizing funds obtained through criminal means.
The accused, currently serving a three-year prison term for illegal possession of a firearm and ammunition, appeared virtually before Acting Chief Magistrate Faith Mc Gusty.
Williams did not have to plead to the indictable charge. He was granted bail and is expected to return to court on December 6, 2024, when an additional money laundering charge is to be read to him.
The allegations date back to Williams’ employment at the Ministry of Health’s Material Management Unit (MMU) bond in Diamond, EBD, alongside co-accused Kieron Webster, 29, of Middle Street, North Cummingsburg.
The Special Organised Crime Unit (SOCU) alleged that the duo misused their access to steal pharmaceuticals and COVID-19 testing kits worth $343,808,000, which were then sold for personal gain.
The theft was uncovered after police searched the bond in response to a report, finding Williams and Webster in possession of a .38 pistol, matching ammunition, $4,580,000 in local currency, and US$5,760. Both were arrested, and Williams was subsequently convicted on the firearm charge.
SOCU’s parallel investigation and audit revealed the extent of the theft, leading to money laundering charges. Proceedings to forfeit the men’s assets believed to be acquired through criminal proceeds are underway.
Webster, facing a separate money laundering charge, was also granted $100,000 bail and is scheduled to return to court on the same date.
