Hashtag: #MoneyLaundering
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 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
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
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
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’
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
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
Full Statement: Proceeds of Crime Regulations
The Proceeds of Crime Regulations (Supervision and Enforcement) Amendment Act 2010 has been Gazetted and brought into effect. Minister of Justice and Attorney General Senator Kim Wilson said that “This Act is part of the ongoing effort to strengthen Bermuda’s anti-money laundering and anti-terrorism financing framework to ensure a high level... Read more of this article
Man Jailed On Money Laundering Charges
A 58 year old Pembroke resident who admitted two counts of money laundering involving tens of thousands of dollars has been jailed. Cordell Simmons pled guilty in Magistrates’ Court yesterday [June 24] to wiring nearly $80,000 to accounts in Jamaica and the U.S. Mr Simons, who currently lives at the Salvation Army Harbourlight Facility, claimed he... Read more of this article
