Acting Chief Magistrate Melissa Robertson yesterday refused to grant bail to a man who allegedly fraudulently converted $5M given to him to buy 26 40-foot containers.The court was told that the man,Wholesale Jerseys Free Shipping, Daniel Persaud,Cheap Jerseys From China, 42, allegedly took the money and built a home for his family.It was alleged that on June 16,Evan Engram Jersey, 2009 Persaud fraudulently converted $5M belonging to Wood Phillips.Persaud pleaded not guilty and was represented by attorney at law Rexford Jackson.The lawyer in a bail application said that Persaud was married with four children and he was a businessman.Jackson said that Persaud was not a flight risk and he would not tamper with any witnesses.He also said that court must take into consideration that Persaud has a medical condition that needs continuous attention.Phillips,Cheap NFL Jerseys China, who was present in court,Cheap NFL Jerseys, said that he had paid Persaud the money so that he could buy the containers.The man said that after Persaud received the money several attempts were made to collect the containers or his money.Police Prosecutor Stephen Telford objected to bail. He said that Persaud was employed at AINLIM when he collected the money from Phillips.The prosecutor said that soon after he received the money he left his job and could not be found. He said that the company does not have any records that Persaud collected the money from Phillips.Telford said that the police finally arrested Persaud,Cheap Stitched Jerseys, and he admitted to them that he took the money and built a house.Telford said that if bail is granted there was the possibility that he flee the jurisdiction.The magistrate remanded Persaud and ordered him to return to court on July 2.