Months after former Demerara Mutual Life Assurance manager Zameel Shaheed was slapped with 45 fraud related charges, the Director of Public Prosecution (DPP) has advised that an extradition proceeding be conducted for the accused to be sent home to face the charges.
This was disclosed by Police Prosecutor Shellon Daniels in the courtroom of Principal Magistrate Sherdel Isaacs-Marcus in the Georgetown Magistrates’ Courts.
Therefore, the prosecutor asked for an adjourned date to report on the proceedings. Hence, the magistrate adjourned the matter until November 18 for report.
Last March, the magistrate issued an arrest warrant for Shaheed after he failed to show up for a third time in court.
Shaheed, who is reportedly in the United States at this time, is accused of defrauding the insurance company of over $40M. He has failed to show up in the Georgetown Magistrates’ Courts, where he is to answer to the charges.
It was reported that Shaheed was the manager of the Claims Department at Demerara Mutual Life Assurance.
During the period 2013-2017, he allegedly authorised transactions amounting to in excess of $40M to sixteen persons who are not entitled to claims.
Shaheed, however, collected the monies for his own use and benefit.
An audit was conducted and it was revealed that Shaheed took in excess of $40M for his own use. Hence, the matter was reported and an investigation was carried out, then charges were instituted. After the audit was conducted, Shaheed sent in his resignation while overseas.
