CarMax executive granted $10 million bail after weeks in custody
Published:Tuesday | May 26, 2015 | 12:00 AMStaff Reporter
One of the executives of used-car dealership CarMax who is implicated in a multi-million dollar fraud probe was granted bail today in the sum of $10 million.
The businessman, Darren Blake, has been before the courts since April 15 and has been in custody since April 23 after a previous bail application was revoked.
His attorney, Raymond Clough, says the Supreme Court granted bail today following an application last week.
In the meantime, Blake was ordered to return to court on July 22 when he appeared before the Corporate Area Resident Magistrate’s Court today.
He is facing 88 counts of fraud amounting to over $161 million.
Four other men are implicated in the probe.
It is alleged that CarMax failed to pay over almost $200 million to several individuals following the sale of their motor vehicles.