Eugene Gilbert an executive of Atlantic Fuel Inc. was arraign before Principal Magistrate Sherdel Isaacs Marcus at the Georgetown Magistrates Court on Monday charged with providing false declarations to the Guyana Revenue Authority on behalf of the company.
He pleaded not guilty and was released on $300,000 bail and will return to court on 1st February, 2021.
Legal proceeding were instituted by the Guyana Revenue Authority after the company, which is owned by former Chief Executive Officer of the Guyana Water Inc. and President Forbes Burnham’s son-in-law Dr. Richard Van West Charles, made a false declaration back in November 2020.
According to reports, the company would under invoiced shipments of fuel; also in some cases the company would allegedly record gallons of fuel as liters and record low prices for fuel.
This is not the first time the company has been making alleged false declaration to the tax agency. Van West Charles was handed fuel license back in 2016 by the APNU+AFC Gov. one month after Charles applied for the license. He was granted permit to import, store and whole sale fuel.
According to regulations, anyone wishing to apply for fuel license must have an environmental permit; ads must be published so that persons living in the environs can be notified.
According to reports, back in 2018 a company named Cenrutty Maritime LLC, shipped over 4,000 barrels of diesel to the company. The cost of the fuel was would have been some US$379000 and taxes would have been to US$265,000.
But according to documents by Atlantic Fuel Inc. dated in September, the shipment cost some US$ 159,000 and taxes were US$111,000. The state lost some US$153000.