Dugan’s next hearing is to be held at 10 am at courtroom 201 in Melekeok.
Dugan as of press time is still in custody of the Division of Corrections. He has not posted his $200,000 bail.
Dugan who had prior convictions including wire fraud and aggravated assault was arrested on October 21 for attempted grand larceny, forgery, cheating, attempted cheating and unlawful issuance of bank check or draft and money laundering.
He was arrested at the airport while he was about to leave the country.
Dugan during his first court appearance told his lawyer Public Defender Jason Shaw that he was invited by the President to invest in Palau.
Dugan claimed he is here to help build a dock for the Navy.
Dugan’s arrest stemmed from an investigation conducted by the Bureau of Public Safety upon the request of the Palau Financial Intelligence Unit.
Investigation revealed that Dugan tried to transfer 15 Billion worth of Euros which is equivalent to $22.5 Billion of money to Palau.
Dugan brought his plan to invest in Palau to Lucius Malsol and Senator Mlib Tmetuchl. The two then accompanied him to First Fidelity Bank Manager Jing Fang Hwang to help Dugan convinced the latter to provide him with the bank’s swift code so that he could transfer money to Palau.
In that transaction, Dugan presented five Certificates of Deposit to Hwang. Each Certificate contained 5 Billion Euros.
