Grenadian businessman, Finton De Bourg, of the Cap Bank fiasco, was today found guilty in the Number 2 High Court on several fraudulent charges.
He’s been remanded to Richmond Hill Prison to return for sentencing on December 15.
On count 1, De Bourg, being Director of Capital Bank International Limited, was found guilty of fraudulently applying for his own benefit 975 thousand, 119 dollars and 97 cents contrary to the Proceeds of Crime Act, with reference to the revised laws of Grenada.
The charges date back to as far as 2005.
The Finton De Bourg scenario was born out of complaints by depositors of Capital Bank, with its headquarters in the South of the island.
It’s believed there were issues regarding the redemption of Funds.
Following investigation by the Financial Intelligence Unit, De Bourg was arrested in relation to this and other offenses relative to Bank funds and a breach of trust.
De Bourg was also found guilty today of falsifying the minutes of the Meeting of the Board of Directors of Cap Bank, which according to the charge was done willfully and with intent to defraud.
De Bourg is to reappear in Court for sentencing on December 15.
