Businessman Carl Ranglin Acquitted in Proceeds of Crime Act Case

KINGSTON – Sixty-year-old businessman Carl Ranglin was found not guilty today in the Corporate Area Criminal Court of charges under the Proceeds of Crime Act. The case centered on allegations that, between 2007 and 2008, Ranglin enticed fellow businessman Owen Grant to invest over US $280,000 in an overseas scheme by promising sizable interest returns on the principal.

Grant, who later expressed dissatisfaction with the investment returns, reported the matter to the police, prompting charges against Ranglin. Prior to the trial, Ranglin’s legal team, led by Peter Champagnie, KC, and Patrice Riley, argued that the case was more appropriate for the Commercial Court; however, the prosecution opted to proceed in the Criminal Court.

During the trial, evidence showed that the investment arrangement between Ranglin and Grant was documented in writing. Under cross-examination, Grant admitted that a key term of the contract explicitly stated that no guarantees were made regarding investment returns. Moreover, he acknowledged that despite not receiving initial returns, he continued to invest further funds with Ranglin.

Presiding Senior Parish Judge Maxine Ellis found that there was no evidence of intent to defraud on Ranglin’s part. The judge further ruled that the sums in question could not be classified as criminal property under the relevant legislation, given all the circumstances of the case.

Judge Ellis’ verdict clears Ranglin of all charges, underscoring the importance of clear contractual terms in financial arrangements and highlighting the challenges in distinguishing between civil investment disputes and criminal conduct.