Hashtag: #MoneyLaundering

Minister of Justice Issues Financial Advisory

Minister of Justice Issues Financial Advisory

Attorney General and Minister of Justice, Senator Kim Wilson, today issued the following advisory about the risks in a number of jurisdictions arising from inadequate systems and controls to combat money laundering and terrorist financing. The full advisory follows below:The Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations... Read more of this article

Deuss Receives 6 Month Suspended Sentence

Deuss Receives 6 Month Suspended Sentence

One-time Bermuda-based businessman John Deuss was given a suspended prison sentence of six months and a fine of 327,000 euros [$409,000], after being found guilty in a Dutch court of banking without a license and failing to report unusual transactions. The 69-year-old banker and oil trader stood trial in Arnhem along with his sister, who was also convicted... Read more of this article

Court: Roger Cox’s Appeal Turned Down

Court: Roger Cox’s Appeal Turned Down

The Court of Appeal has rejected the appeal by convicted money launderer Roger Cox. Mr Cox, 38, received a 5 year prison sentence last April after pleading guilty to money laundering approximately $2.2 million dollars. His friend Michelle Lindsay received four months for her part in the operation. After the pair pleaded guilty last year a Police spokesman... Read more of this article

John Deuss Goes On Trial In Holland

John Deuss Goes On Trial In Holland

One-time Bermuda-based businessman John Deuss has gone on trial in the Netherlands accused of banking without a license, disguising unusual transactions and forming a criminal organisation that made ​​possible large-scale carousel fraud in England. Dutch media sources reported today [Mar. 26] that the 69-year-old banker and oil trader was standing... Read more of this article

Robinson Convicted In St. Vincent

Robinson Convicted In St. Vincent

Bermudian Winston Robinson was convicted of two offences of money laundering in a St. Vincent court today [Mar.9]. Mr Robinson was on a sailboat — containing $1.7 million in hidden compartments — when it was intercepted entering St. Vincent in April 2008. A police spokesperson said, “The Bermuda Police Service learned today of the... Read more of this article

AG Issues Proceeds Of Crime Advisory

AG Issues Proceeds Of Crime Advisory

Attorney General and Minister of Justice Michael Scott issued an advisory about the risks in a number of jurisdictions arising from inadequate systems and controls to combat money laundering and terrorist financing. Details on these risks were provided by the Financial Action Task Force [the FATF] in statements which were released following its Plenary... Read more of this article

Boldens: Guilty On 1 Count, Not Guilty On 18

Boldens: Guilty On 1 Count, Not Guilty On 18

At approximately 5pm today [June 14] the jury returned a verdict in the trial of David and Antoinette Bolden. They were found guilty on one count of misleading the Bermuda Monetary Authority, and acquitted on 18 charges of theft and money laundering. The verdict was a majority verdict with 10 – 2 split on the guilty finding, while on the other... Read more of this article

Three People Deny Money Laundering

Three People Deny Money Laundering

Three people denied money laundering charges at the Supreme Court monthly arraignment session this morning [June 1]. Omari Gyasus Kevin Franklin, Dennisha Sahima Simmons and Allana Tait all pleaded not guilty to laundering money between May 2007 and May 2010. Omari Franklin faced counts involving money laundering, drug possession, possession of drug... Read more of this article

Cox Receives 5 Years For Money Laundering

Cox Receives 5 Years For Money Laundering

ZBM has reported that 38-year-old Roger Cox received a 5 year prison sentence today [Apr.19] after pleading guilty to money laundering approximately $2.2 million dollars. Mr Cox’s friend Michelle Lindsay received four months for her part in the operation. Last  month Roger Vincent Cox, a 38 year old from St. George’s, pleaded guilty to three... Read more of this article

Money Laundering Advisory: Various Jurisdictions

Money Laundering Advisory: Various Jurisdictions

Attorney General and Minister of Justice Michael Scott  today [Apr.11] issued the following advisory about the risks in a number of jurisdictions arising from inadequate systems and controls to combat money laundering and terrorist financing. Details on these risks were provided by the Financial Action Task Force1 (the FATF) in statements which were... Read more of this article

Two Plead Guilty To Money Laundering

Two Plead Guilty To Money Laundering

This morning [Mar.7] in Supreme Court, Roger Vincent Cox, a 38 year old from St. George’s, pleaded guilty to three offences of Money Laundering. Also appearing with Mr Cox was Michelle Laverne Lindsay, a 49 year old book keeper. Ms Lindsay pleaded guilty to one count of Money Laundering involving her receipt and subsequent ‘layering’ of $25,000.00... Read more of this article

BMA: Fine Reflected ‘Serious Nature of Breaches’

BMA: Fine Reflected ‘Serious Nature of Breaches’

The Bermuda Monetary Authority [BMA] says while no evidence of money laundering was discovered during its recent investigation of the First Bermuda Group, the $100,000 fine levied against the firm in September reflected the “serious nature” of its breaches of Bermuda’s tough new Proceeds of Crimes Regulations.In its latest regulatory... Read more of this article

Anti-Money Laundering Regulations Seminars

Anti-Money Laundering Regulations Seminars

The Bermuda Monetary Authority (BMA) has scheduled a series of awareness sessions on Bermuda’s Anti-Money Laundering regulations targeting the island’s various financial industry sectors. The seminars are designed to educate firms within the island’s financial services industry about their legal obligations under Bermuda’s new anti-money laundering... Read more of this article