A 27-year-old businessman of Greenheart Street, South Ruimveldt, Georgetown, has been charged with fraudulent conversion involving more than $22 million.
Jason Stephaney was arrested on September 19, 2025, and charged under Section 197(1)(b) of the Criminal Law (Offences) Act, Chapter 8:01. Police allege that between June 2024 and September 2025, while at King Street, Georgetown, Stephaney fraudulently converted the sum of G$22,000,000.
Stephaney appeared on Friday before Acting Chief Magistrate Faith McGusty at the Georgetown Magistrate’s Court #1, where the indictable charge was read to him. He was not required to enter a plea.
The court granted him bail in the sum of $300,000, subject to strict conditions. These include surrendering his passport to the court and reporting to the Criminal Investigation Department (CID) Headquarters on the last Friday of every month until the matter is concluded.
The case has been adjourned to February 13, 2026, at 9:00 a.m.
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