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Sunday 26 May 2019
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Police: Man charged for money laundering

Photo: Jeff Mayers
Photo: Jeff Mayers

From March 1 to present, the TTPS Financial Investigation Branch (FIB) has charged one person for money laundering.

Speaking at yesterday’s police weekly briefing held at the police headquarters, Port of Spain, Acting ASP Terrence Pierre said the value of the charge was US $693,040.

He said for the same period the branch laid five Cash Forfeiture Applications before the courts with a value of $ 600,889, and US$1,022.00.

“There are also 24 cash seizures under investigation, with a value of $1,055,008.00 and US$91,942.00. The FIB was also successful in forfeiting $42,000.00 on behalf of the state, during the same period.

“In total, to date the Financial Investigations Branch laid 91 charges of money laundering against 18 people with a value of $14,339,496.96 and US$733,646.00, and has successfully forfeited $418,387.40, US$138,620.00 and EC$28,000.00 to the state.”

Notwithstanding the FIB is the designated department for investigating money laundering, Pierre said there are two other departments in the TTPS that investigates financial crimes - the Fraud Squad and the Anti-Corruption Investigations Bureau.

He said collectively, 39 people have been charged for money laundering with a value of $49,009,945 and US$1,640,071.

“Of these, 39 people, nine were recently charged by the Anti-Corruption Investigations Bureau. We therefore wish to congratulate them for their good work. The people charged for money laundering in TT appear in the following magisterial districts in Port of Spain, San Fernando, Scarborough, Tunapuna, Arima , Chaguanas, Princes Town and Rio Claro, Pierre said.

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