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Car dealer jailed for just under two years for stealing, money laundering

by Jenique Belgrave
2 min read
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Reynold Randolph Roach has been jailed for stealing $76 000 from a bank and laundering it 12 years ago.

Madam Justice Wanda Blair imposed a term of four years on the 57-year-old resident of Lower Estate Heights, St Michael for stealing the money belonging to the Bank of Nova Scotia, via a draft from that bank made payable to him, between June 21 and 22, 2012; and five years for laundering the proceeds of that theft.

However, after discounts were given for the mitigating factors and the delay in bringing the matter to trial, he will serve 21 months for the theft and 33 months for money laundering. The sentences will run concurrently.

The court heard that one of the bank’s customers who was interested in buying a vehicle, went to Roach who was a car dealer. The bank and Roach both prepared documents to facilitate the purchase, and a cheque was prepared in Roach’s name. However, the client never received the car.

Roach had told police he used the money he received to fix a Rav4 and purchase a Nissan Navara.

Justice Blair noted the psychological impact the crime had on the bank client who never received the vehicle he arranged to purchase from Roach but was constantly contacted by the financial institution to repay the loan.

The judge said the evidence was clear that the scheme to steal the funds was well planned and executed.

Noting that Scotiabank did not give a victim impact statement, she said it was a serious matter when the public lost confidence in banking institutions, as they expected their funds to be secure.

“The public confidence in all of those institutions would have been shaken by what occurred. Unfortunately, that is the reason why financial institutions are reluctant to report these matters to the court,” Blair added.

The case was prosecuted by Principal State Counsel Joyann Catwell, while attorney Martie Garnes was Roach’s defence attorney.

 

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