Man Could Face Six-Month Sentence for Role In Financial Scam

NASSAU, BAHAMAS – A man could face six months in prison for his role in a financial scam.

Valentino Farquharson faced a magistrate after a FirstCaribbeanCIBC client had his account hacked.

On April 22, the client received a text that he believed was from his bank, informing him that his account had been suspended.

When the man clicked on the link to recover his account, hackers took over and made transfers totalling $20,033.22.

Of that sum, $6,500 was transferred to Farquharson, who withdrew $3,000 of the stolen money.

Farquharson could not access the remaining $3,500 after the bank placed a hold on the money.

Farquharson pleaded guilty to stealing and money laundering at his arraignment before Chief Magistrate Roberto Reckley.

He was ordered to repay the stolen funds by August 31.

Farquharson was also placed on probation for six months and ordered to perform 100 hours of community service.

A breach of the court’s order will send Farquharson to prison for six months.