Why Guyanese former EZjet CEO Sonny Ramdeo can’t get bail just yet – 14th Jan 2013
According to the court documents released today in Florida, at the time of his arrest on December 1 1, 2012, the Defendant Ramdeo was the Chief Executive officer of EZ Jet Airways, the airline service involved in the alleged fraud at issue.
The Defendant’s criminal history includes a 1999 misdemeanor conviction for Petit Larceny and a 2001 felony conviction for Attempted Grand Larceny.
After expending considerable resources to discover the Defendant’s whereabouts, law enforcement finally tracked him down and arrested him in an apartment building basement in Queens, New York.
At the time of his arrest, the Defendant indicated that he knew he was in trouble and that muc
h money was missing. The Prosecution estimates the total amount of loss as being $24 million, but it believes that the amount may very well exceed $55 million, based on the Defendant’s own statements. At present, the prosecution represents that approximately $5 million is wholly unaccounted for.
The Defendant’s known assets include a Florida home valued at $425,000, with $80,000 in equity, but he apparently owes substantial amounts of money for outstanding judgments against him and credit card debt.