A 31-year-old PriceSmart supervisor has been released on bail after appearing in court charged with defrauding his employer of over ten million dollars over a five-year period. Aaron Hosein, of Cocoyea Village, San Fernando, was not called on to plead to the 122 fraud charges when he appeared before Magistrate Christine Charles in the Port-of-Spain First Court yesterday afternoon. Although his criminal record showed he did not have any convictions or pending cases, court prosecutor Sgt Callista Charles (no relation) still objected to bail for Hosein, saying he might attempt to flee the country because of the number of charges and the substantial sum allegedly stolen in the case.
After hearing a bail application from Hosein’s lawyer, Ravi Rajcoomar, Magistrate Charles agreed to put Hosein on $4 million bail. Rajcoomar explained that Hosein was the main breadwinner in his home as his father is a pensioner and his mother a part-time domestic worker. Hosein also has a four-month-old son, Rajcoomar said. To alleviate the prosecutor’s concerns, Charles decided to order Hosein to surrender his passport and to report to the Fraud Squad office in San Fernando once a week while the case is going on.
Hosein, a former employee of the branch at Price Plaza, Chaguanas, is accused of defrauding the company of approximately $10.8 million by inflating its payroll records. The crimes allegedly began in 2009 and ended when the discrepancies were discovered last month. The case was transferred to the Chaguanas Magistrates Court and adjourned to November 11.
