Three granted bail in million-dollar fraud case

Three people accused of laundering more than one million dollars appeared in the Lautoka Magistrates Court this week. Anish Sagar, Avinesh Chand, and Usha Kiran face 747 charges of money laundering and six counts of theft.

Prosecutors allege that between January 1, 2017, and December 31, 2022, Sagar and Chand, while employed as financial officers at Superb Distributors Pte Ltd, stole over one million dollars from the company. They are also accused of concealing and disposing of more than $345,000 of the stolen funds during the same period.

The alleged scheme involved transferring the money in 747 transactions into an inactive business bank account belonging to Chand's wife, Usha Enterprise. From there, the funds were reportedly moved into the personal accounts of the accused. Prosecutors contend that the individuals knew or should have known the money was the proceeds of crime derived from theft.

The accused were granted bail under strict conditions. The court has adjourned the matter to August 10 for a plea.