High Court bail application denied for cocaine trafficking businessman

$2.1 million worth of cocaine.

The businessman of Festival City, North Ruimveldt appeared before Magistrate Sherdel Isaacs-Marcus and pleaded not guilty to the charge.

Particulars of the charge claimed that Peniston, on March 03, had 2.178 kilograms (5 lbs) of cocaine for the purpose of trafficking.

Peniston denied knowledge and ownership of the narcotics. He was remanded to prison until April 03, 2023.

According to a release from Customs Anti-Narcotic Unit (CANU), acting on a ‘tip-off’, ranks went to the Festival City property and intercepted Peniston with two hardcover suitcases in his possession.

“A subsequent search of the suitcases in the presence of the suspect revealed a quantity of whitish powdery substance suspected to be cocaine,” CANU noted.

The cocaine weighed approximately 5 lbs. (2.178kg) with a street value of GY$2.1 million.