De Bourg Bail hearing set for March 19

Imprisoned businessman Finton De Bourg will have to wait another two weeks to get a hearing before the Court of Appeal on his bid to be released from the Richmond Hill prison pending the substantive hearing of his appeal against a 23-year jail sentence for fraud in the collapsed Capbank fiasco.

U.S-trained attorney-at-law, Jerry Edwin has filed a bail application before the Court of Appeal on the basis that “extraordinary circumstances” justify DeBourg’s release from prison pending the full and substantive appeal in October.

Speaking to THE NEW TODAY on Tuesday, Edwin said the matter was scheduled for status hearing on Monday but was pushed back due to an “administrative overload by the Court of Appeal panel.”

He said the Court of Appeal decided that De Bourg’s “bail hearing, will be held by a single Justice of the Court of Appeal via video conference on March 19, when both the defense and prosecution teams will put forward their arguments”.

According to Attorney Edwin, De Bourg believes that he has a “high probability of succeeding on his appeal in October.”

De Bourg, who was convicted on six (6) fraud-related charges, in connection to the failed Capital Bank International Ltd., (Cap Bank) in November 2016, was sentenced to 23 years imprisonment by High Court Judge, Justice Paula Gilford in December 2016.

The attorney said that the city businessman is hoping to move the Court of Appeal to rule that “his conviction was not justified based on the inconsistent evidence in the High Court”.

He quoted DeBourg as saying that “a testimony given by one (1) witness in the Preliminary Inquiry was different at the High Court trial”.

According to Edwin: “Another testified that she lifted his (De Bourg’s) signature from one (1) document and placed it on another without his consent. The Receiver testified that every single penny of Cap Bank’s depositors monies was accounted for in loans that were made to other Cap Bank depositors and the balance was in other financial institutions in Grenada.

“The auditor, who reviewed the loan made to De Bourg’s company gave a thorough statement…that absolutely nothing was wrong with the loan”, he added.

The convicted businessman who resided at Westerhall Point, St. David’s was found guilty on one (1) count of fraudulently applying for his own benefit EC$$975,119.97 from Capbank between October 1, 2002 and March 31, 2004 and another count of fraudulently applying an additional sum of EC$15, 650, 538.28 for his own benefit between September 4, 2004 and February 15, 2008.

DeBourg was also found guilty on three counts of falsifying the Minutes of meetings of the Board of Directors dated April 21, 2005, February 15, 2006 and June 1, 2007, and also between the period of June 1, 2007 and August 31, 2007, as a Director of CapBank.

Attorney Edwin contends that “De Bourg never touched a single penny of the depositor’s money” and strongly believes that there is a very high probability that he can win his appeal.

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