Criminal Court “C” has rejected part of Nora Finda Bundoo’s latest bond package, ruling that the proposed sureties remain below the court’s required US$8 million threshold.
In a ruling delivered by Judge Ousman F. Feika, the court approved ACICO’s US$6 million bond and recognized a previously accepted US$240,000 surety. However, the court found that American Underwriters Group’s (AUG) US$2 million bond lacked sufficient financial capacity to meet the requirement.
After reviewing AUG’s assets and liabilities, the court determined that Bundoo’s valid sureties amount to approximately US$6.657 million, leaving a US$1.342 million shortfall.
Judge Feika has given AUG 30 days to augment the deficit, emphasizing that the bond will not be fully approved until the required amount is secured.
Meanwhile, the court has ordered that Bundoo’s passports and other travel documents remain seized, keeping her subject to the court’s jurisdiction while the bond issue remains unresolved.
Bundoo is facing multiple financial-crime charges, including allegations involving money laundering and misuse of public funds. The charges remain pending, and the latest ruling does not constitute a determination of her guilt or innocence.