Director denies stealing over $700,000

(CNS): Fernando Mendes pleaded not guilty to three counts of theft and two of false accounting on Friday in connection with accusations that he stole close to three quarters of a million US dollars from Conimbriga Investments Ltd and Finab Ltd. Described in the court as a board director of the companies involved, Mendes is charged with stealing the money from the investment firm and the mutual fund over an 18 month period. He is also charged with making false statements to cover up the financial fraud. Having pleaded not guilty, Mendez is scheduled to face trial in June next year. He was released by the court on bail.

Mendes has pleaded not guilty to stealing US $560,427 from Conimbriga Investments Ltd between January and August 2010, plus US $132,807 between June 2009 and January of this year from Finab Ltd, and a further theft of US $25,000 on 17 September 2009, also from Conimbriga Investment.

The board director who was also a corporate manager of Finab Ltd is charged with falsifying statements in connection with that company and Conimbriga Investments Ltd.