Paul Lewis, 37, appeared last week Friday before Magistrate Ambrose Armbrister on charges of unlawful sexual intercourse.
Prosecutors alleged that Lewis, a resident of Yamacraw Shores, had sex with a boy of 14 in February 2019.
Sources told Eyewitness News Online that Lewis, a Director at a private wealth management company, was allegedly caught by police officers in a compromising situation on a beach with the teen boy.
Lewis was remanded to prison on an unlawful sex charge and was not required to enter a plea.
His matter is expected to be fast-tracked to the Supreme Court for trial.
Lewis is also expected to return to court in April for a voluntary bill of indictment.
Also, Ashley Moss, 30, of Armbrister Street, appeared in court last week, accused of two counts of unlawful sexual intercourse.
Prosecutors said Moss allegedly raped a 15-year-old girl in December 2017 and January 2018.
Moss did not enter a plea to the charges and was remanded to The Bahamas Department of Correctional Services.