Richards hits elite ‘untouchables’

GOVERNMENT after government seem unwilling or unable to stem money laundering by elites viewed by the general public as “untouchables”, lamented Independent Senator Paul Richards. He spoke during Tuesday’s Senate debate on the Miscellaneous Provisions (Mutual Assistance in Criminal Matters Bill) 2017.

“I don’t think the public gets the impression that justice and resources are applied to all demographics (that is, population subgroups) in society.”

Richards said many people do not realise the connection between money laundering and murders in the street.

Saying money-laundering disguises the illegal origins of funds, he said it cannot be perpetrated without the knowledge and participation of players in the State, banks, auditors, retail and family-members, all of whom he dubbed “every sector and dimension of life in Trinidad and Tobago.” He supported his claim by citing the Contemporary Justice Review’s article by Christopher Mullins on “A complicity continuum of State crime.”

Richards said the public doesn’t realise the trickle-down effects of money laundering such as undermining the legitimate private sector, risking the country’s reputation, incurring international sanctions and supporting gang violence locally.

He said that in the country’s members clubs (casinos) millions of dollars disappear into a “dark hole of illegality.” He urged action on money laundering and terrorist financing which daily harm TT, even as recently reported in a CNN story on the US military’s role in thwarting a disruption to Carnival.

Richards said certain activities at Carnival also facilitate money laundering, which he said takes place in the media and entertainment sectors. He lamented that the Senate debate had not mentioned BitCoin which can facilitate money laundering, but Attorney General Faris Al-Rawi said the Government is examining the regulation of such crypto-currencies.