Two months after former Demerara Mutual Life Assurance manager, Zameel Shaheed, was slapped with 45 fraud related charges, an arrest warrant was this morning issued for him when 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 company of over $40M. He has failed to show up in the Georgetown Magistrates’ Court, where he is to answer to the charges.

This morning, when the matter was called before Principal Magistrate Sherdel Marcus-Issacs, the court orderly called out Shaheed’s name thrice. However, No one answered or appeared.

Hence, the investigating rank informed the court that a summons was prepared and served on the defendant.

The Court Prosecutor, Shellon Daniels, upon hearing what the investigating rank told the court, asked that an arrest warrant be issued for Shaheed.

Hence, the Magistrate issued the arrest warrant and adjourned the matter until April 29, 2019.

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.


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