Gold miner jailed for fraudulent conversion of gold, diamonds

Last Updated on Wednesday, 13 August 2014, 21:25 by GxMedia

A gold miner, who allegedly converted GUY$1.4 million in gold and diamonds to his own use, was Wednesday jailed for three years on a charge of fraudulent conversion.

Franklin Peters, 47, of Station Street, Kitty, Georgetown pleaded guilty to fraudulently converting three ounces of gold and 17 carats diamond worth GUY$1.4 million for his own use and benefit.

City Magistrate, Judy Latchman imposed the penalty on the convict.

Police said Hazel Patterson solely entrusted Peters with the precious metal and stone to deliver them to Clive Obermuller who is the owner of the items. The offence was committed between September 1 and 30, 2013 Kukamgran Backdam, Potaro River.

Police said that Obermuller operates a dredge in the interior and Peters was his employee.

While the offence was committed last year, Peters was arrested August 12 at Stabroek Market and charged.