The Tribune

By FARRAH JOHNSON

fjohnson@tribunemedia.net

A 41-year-old man was charged yesterday with defrauding the Securities Exchange Commission of $850,000.

Jeremy Pinder was charged before Chief Magistrate Joyann Ferguson-Pratt with fraud by false pretences, conspiracy to commit fraud by false pretences and 20 counts of money laundering.

Pinder denied all charges brought against him yesterday and the matter was adjourned to April 1.

Bail was denied and he was remanded to the Bahamas Department of Correctional Services in the interim. He has a right to apply to the Supreme Court for bail.

It is alleged that Pinder, with intent to defraud, obtained $850,000 belonging to the Securities Exchange Commission from the Royal Bank of Canada on January 7.

It is also alleged that Pinder knowingly transferred $124,344.23 from an RBC Bahamas account to another account held outside the country on January 24.

Pinder was also accused of transferring $123,820.42 from an RBC Bahamas account in the name of JE Catering Service to another account in the name of TMR Limited held outside the country on January 29.

He was further charged with transferring $133,621.51 from the JE Catering Service RBC account to another account outside of the country on February 3 and transferring $166,177.60 from JE Catering Service RBC account to a TMR Limited account held outside the country on February 4.

Pinder was also accused of knowingly possessing the proceeds of crime by conducting a number of withdrawals from RBC between January 17 and February 10.

It is alleged that Pinder withdrew $10,000 from RBC, knowing the cash represented the proceeds of crime.

It is further alleged that he possessed $9,000; $4,500; and $5,100 after conducting three separate withdrawals from RBC on the January 20, January 23 and January 27 respectively.

Pinder was also accused of knowingly possessing $6,000 by conducting a withdrawal from RBC on February 4 and knowingly possessing another $1,500 by withdrawing the funds from RBC on February 10.

During the arraignment, Pinder’s attorney, Dion Smith, told the judge that his client was suffering from severe migraine headaches and had a growth on his leg which required medical attention.

In response, Magistrate Ferguson-Pratt said she would send a note to the Bahamas Department of Correctional Services to ensure that the accused is evaluated by a physician.