A Venezuelan national who was remanded in July after more than 55 kilogrammes of cocaine were allegedly found in a vehicle on the East Bank of Demerara has been granted bail in the sum of $8 million.
Gerardo Martinez was granted bail when the matter came up again in the Diamond Magistrates’ Court on Thursday.
Attorney-at-law Bernard DaSilva, who represents Martinez, said it was his third court appearance in the matter. He said he renewed the bail application and presented documents showing Martinez’s business registration, National Insurance Scheme registration and Taxpayer Identification Number certificate.
The attorney said he also presented documents showing Martinez’s compliance with the Guyana Revenue Authority, along with a Guyanese guarantor who has undertaken to ensure Martinez returns to court for his trial.
Bail was granted in the sum of $8 million, with conditions that Martinez lodge his passport and report to the Customs Anti-Narcotic Unit headquarters every Friday.
The matter has been adjourned to September 21, 2026, for trial. Martinez was arrested following a CANU operation on July 24, 2026, in the vicinity of the Providence Public Road, East Bank Demerara.
CANU had said its officers intercepted a motor vehicle and, during a search, allegedly found 50 brick-like parcels of cocaine weighing 55.296 kilogrammes.
Martinez, a Venezuelan national, and Revelino Achicue Ascue, a Colombian national, were arrested and later charged.
The two men appeared before Magistrate Bess at the Diamond Magistrates’ Court. Ascue pleaded guilty and was sentenced to four years in prison and fined $82,944,000.
Martinez pleaded not guilty and was remanded to prison at that stage.
