Businessmen wanted by US on fraud charges freed on $2M bail

Port-of-Spain: Businessmen Ishwar Galbaransingh and Steve Ferguson who are wanted in the United States to answer 95 cases of fraud, are back home this afternoon after spending the past nine months in jail.

The two walked out of the Maximum Security Prison in Arouca just after midday today, more than 24 hours after High Court judge Ronnie Boodoosingh granted them bail in the sum of $2 million each.

The delay in the men walking free was due to an administrative mix up which involved their passports which were surrendered in 2006 on the ruling of then Chief Magistrate Sherman Mcnicholls. As they left the prison, the men who appeared to be gaunt and tired, were whisked away quickly and did not speak to the media.

Galbaransingh and Ferguson are charged with corruption and fraud arising out of the construction of the Piarco International Airport.