News

Guyana: Police lose bid for forfeiture of millions seized by SOCU from Berbice moneychanger

The Commissioner of Police, as represented by the head of the Special Organised Crime Unit (SOCU) Sydney James, on Monday failed in a bid to secure the forfeiture of more than $7 million in local currency and millions more in foreign currencies that the police say they unearthed during a search of the home of a Berbice resident as part of a money laundering probe.

The application alleged that moneychanger Mohamed Jamalodeen Nazmodin, the respondent, had been engaged in the business of buying and selling foreign currency in breach of the Dealers in Foreign Currency (Licensing) Act.

More
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s