KINGSTON – Sixty-year-old businessman Carl Ranglin was discovered not responsible in the present day within the Company Space Prison Courtroom of costs beneath the Proceeds of Crime Act. The case centered on allegations that, between 2007 and 2008, Ranglin enticed fellow businessman Owen Grant to speculate over US $280,000 in an abroad scheme by promising sizable curiosity returns on the principal.
Grant, who later expressed dissatisfaction with the funding returns, reported the matter to the police, prompting costs in opposition to Ranglin. Previous to the trial, Ranglin’s authorized staff, led by Peter Champagnie, KC, and Patrice Riley, argued that the case was extra applicable for the Business Courtroom; nevertheless, the prosecution opted to proceed within the Prison Courtroom.
Throughout the trial, proof confirmed that the funding association between Ranglin and Grant was documented in writing. Below cross-examination, Grant admitted {that a} key time period of the contract explicitly acknowledged that no ensures had been made concerning funding returns. Furthermore, he acknowledged that regardless of not receiving preliminary returns, he continued to speculate additional funds with Ranglin.
Presiding Senior Parish Choose Maxine Ellis discovered that there was no proof of intent to defraud on Ranglin’s half. The decide additional dominated that the sums in query couldn’t be labeled as felony property beneath the related laws, given all of the circumstances of the case.
Choose Ellis’ verdict clears Ranglin of all costs, underscoring the significance of clear contractual phrases in monetary preparations and highlighting the challenges in distinguishing between civil funding disputes and felony conduct.
