The woman behind the Lamont Pays The Bills lending scheme did not commit any crime, according to her lawyer.
Maresha Walkes, 36, of Carmichael Road, is accused of carrying on a financial and corporate service between January and May 12, 2010 without authorization. The company had offered interest free personal loans for sums of $1,000 to $5,000.
Arguing that prosecutors had failed to prove their case against Walkes, defense lawyer Wayne Munroe told Magistrate Derence Rolle-Davis that Walkes did not need a license to operate her business because she did not gain any financial benefit from the scheme.
He noted that prosecution witness, Gawaine Ward, deputy legal counsel of the Securities Commission, testified that persons only required licenses for making loans if they were doing it for reward.
However, Munroe said the evidence revealed that participants in the matter were not charged at all. He said, "There was a fee you paid to be processed. If accepted, the fee was the first repayment of funds received. If not accepted, the person was refunded. There was no charge."
Munroe said there was no reward for Walkes because participants only repaid the sum that they borrowed.
He said, "Nobody paid a dollar in order to participate in the scheme described in this matter. It does not qualify for licensing and no offense could be committed."
Munroe pointed out that there was evidence that Walkes had contacted the Securities Commission to determine if a license was required and she was advised she did not need one.
Sergeant Godfrey Brennen, the prosecutor, will respond to Munroe's arguments on June 15.
Walkes is free on $4,000 bail.

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