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Former Finance Minister on $3 million bail

Last Updated on Tuesday, 28 December 2021, 10:44 by Denis Chabrol

Former Finance Minister Winston Jordan was today granted $3 million bail on a charge of misconduct in public office related to the sale of a wharf to BK Marine.

Chief Magistrate, Ann Mc Lennan ordered that Mr Jordan return to court on January 14, 2022.

The Prosecution’s case is that it was sold well below market value and he did not follow the legal procedures.

The charges states that while being Minister of Finance and the concerned Minister for the National Industrial and Commercial Investments Limited, sold a prime property to BK International for $20 million which carries at the time a market value of $5 billion that was grossly undervalued to such a degree as to amount to an abuse of the public’s trust and without reasonable excuse or justification.

Attorney-at-Law Roysdale Forde, however, contended that the Mr Jordan merely carried out functions based on decisions by the Board of the National Industrial and Commercial Investments Limited (NICIL) and the Cabinet,  not on his own accord.

Mr Forde said he and other members of legal team were unsuccessful in their efforts to get the bail reduced.

He said no sum was proposed, but he relied on Mr Jordan’s service to Guyana as a Budget Director and Finance Minister.