Ricardo Dennis Gets Bail in $93 Million NCB Fraud Case

A man accused in an alleged $93 million bank fraud matter has been given a September return date following his appearance in the Kingston and St Andrew Parish Court on Tuesday.

Ricardo Dennis, prosecutors told the court, was recently taken into custody in connection with an investigation that is already before the justice system and includes several other defendants. He faces charges of conspiracy to defraud, engaging in transactions involving criminal property, and possession of criminal property.

The Crown alleges that Dennis was involved in the scheme against National Commercial Bank and personally received $9.2 million from the proceeds.

Prosecutors asked Parish Judge Peter Wilson to examine the bail terms being considered for the accused man. Speaking directly to Dennis, the judge advised him to retain legal representation, saying, “These are very serious charges against you.” Dennis replied that he “didn’t receive any money”.

Judge Wilson granted bail in the sum of $900,000, requiring one to two sureties. Dennis must report to the authorities three times each week, hand over his travel documents, and is now subject to a stop order at Jamaica’s ports. His next court date is September 11.