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Thursday, 26 November 2009
A National Commercial Bank (NCB) employee accused of stealing $15 million from the institution was offered $10 million bail Thursday.
Kevin Marshall, a loans officer at the Knutsford Boulevard branch was offered bail when he appeared before the Half-Way-Tree Criminal Court on several counts of fraud and conspiracy.
He is accused of stealing the money in a loans racket.
Mr. Marshall was charged last week following an investigation by the fraud squad.
Detectives allege that between May last year and June this year, Mr. Marshall in his capacity as loans officer, conspired with other persons and prepare more than 14 fictitious loan agreements totalling $15 million.
The money was funnelled through fictitious accounts created by Mr. Marshall who later pocketed the cash.
The management of the bank uncovered the irregularity in July and called in the police.
<span style="font-weight: bold">Mr. Marshall reportedly fled from the bank in July when the cops showed up to start their probe.</span>
He went into hiding until he was nabbed last week.
Investigators say Mr. Marshall used $4 million to purchase 4 motor vehicles.
The vehicles have since been seized by the police.
However, the cops say they cannot locate the balance of the money.
Mr. Marshall is scheduled to return to court on January 12, 2010.