Carol Joseph being investigated by SOCU over $6M fraud at MARDS

Carol Joseph

During the month of March 2022, a report was made to the Special Organised Crime Unit (SOCU) by Mahaica Abary Rice Development Scheme (MARDS) Rice Milling Complex Limited, a private company registered under the Companies Act. Cap 89:01 of fraudulent appropriation of funds of that company by Carol Joseph, who was a director of that company at the time.

As a result of that report, SOCU commenced investigations.

During the course of the investigations, it was revealed that Joseph as a director on the MARDS Board, without authority, solely approved 14 transactions amounting to GC $6,121,108.00 without the Board’s knowledge, between June 2016 and August 2016.

These amounts were used for her personal benefits and purposes other than that of MARDS’ business. On completion of the investigations, a file was prepared and sent to the DPP’s Chambers for legal advice.

Based on legal advice from the DPP’s Chambers, she was invited to SOCU where 14 allegations of Fraudulent Appropriation of Property of Body Corporate were put to her to the total value of GC $6,121,108.00 committed on MARDS Rice Milling Complex Limited.