A Venezuelan National, Gerardo Martinez, was today granted bail in the sum of $8M when he returned to the Diamond Magistrates’ Court to answer a cocaine trafficking charge.
Martinez’s Attorney-at-Law, Bernard Da Silva renewed his bail application before the court, submitting documents relating to Martinez’s business registration, National Insurance Scheme (NIS) and Taxpayer Identification Number (TIN) certificates, as well as evidence of his compliance with the Guyana Revenue Authority (GRA).
The application also included a Guyanese guarantor who undertook to ensure Martinez returns to court for his trial.
Magistrate Bess granted bail with conditions that Martinez lodge his passport with the court and report to the Customs Anti-Narcotic Unit (CANU) headquarters every Friday.
The matter was adjourned to September 21, 2026, for trial.
Martinez was arrested by CANU officers on July 24 following an operation in the vicinity of Providence Public Road, East Bank Demerara.
Officers intercepted a motor vehicle and conducted a search, during which they found 50 brick-like parcels containing cocaine with a combined weight of 55.296 kilograms.
Martinez and Colombian national Revelino Achicue Ascue were subsequently charged and appeared before the Diamond Magistrates’ Court.
Ascue pleaded guilty to the charge and was sentenced to four years’ imprisonment and fined $82.944 million.
Martinez pleaded not guilty and was initially remanded to prison.
