Case 2

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23 Mar
Case 2

Money Laundering & Conspiracy to Commit Money Laundering Convictions in Grenada.

During the period February 2013 to April 2013, the Financial Intelligence Unit of Grenada received several Suspicious Activities Reports from two local reporting entities.

After careful analysis, a criminal investigation ensued uncovering a transnational organized criminal enterprise defrauding elderly United States of America citizens of monies in excess of EC $300,000.00 ECC. These monies were sent from the U. S, by the victims, to Grenada via money remitting agencies. The monies collected by approximately fifteen (15) Grenadian nationals at several locations around the island, were subsequently handed over to a local who later turned out to be the recruiter.  The master mind behind the operation originated from Canada with US citizenship. 

As a result of the investigation, an operation was carried out during which one of the collectors was intercepted shortly after and cash in excess of three (EC$3,000) thousand dollars were recovered from him. Subsequently, the Officers of the FIU were led to one of the local hotels where a search warrant was executed in a room occupied by two Canadian Citizens and EC $14, 900.00 was seized. The male occupant, Denzel Roach, was identified as the person who travelled from Canada for the purpose of collecting monies from the recruiter in Grenada and was ultimately responsible for sending the monies out of the island to different parts of the world.

The local recruiter Francis Richards was subsequently charged with twenty two (22) counts of Money Laundering and Conspiracy to Commit Money Laundering and Denzel Roach was charged with two counts of Money Laundering and Conspiracy to Commit Money Laundering.

Both defendants appeared before the Chief Magistrate on May 23, 2013 where Denzel Roach pleaded guilty to all charges and Francis Richards pleaded guilty to sixteen counts of money laundering and the charge of conspiracy to commit money laundering.

On the conspiracy charge, Denzel Roach was fined EC $30, 000.00 forthwith, in default two (2) years in prison and on one count of money laundering he was fined EC $20,000.00 forthwith, in default two (2) years in prison, both sentences to run concurrently. He is presently serving time due to non-payment of the fine.

On the conspiracy charge, Francis Richards was fined EC $20.000.00 to be paid in nine (9) months, in default two (2) years in prison and on one count of money laundering he was fined EC $20.000.00 to be paid in nine (9) months, in default two (2) years in prison, both sentences to run concurrently. He was reprimanded and discharges on the other fifteen (15) money laundering charges.

All monies (EC $18,890.64) seized were forfeited to the State.

This may be the first successful development of a Suspicious Activity Report which resulted in a conspiracy to commit money laundering conviction in the OECS in recent times, if not the first in recorded history. During the period February 2013 to April 2013, the Financial Intelligence Unit of Grenada received several Suspicious Activities Reports from two local reporting entities.

After careful analysis, a criminal investigation ensued uncovering a transnational organized criminal enterprise defrauding elderly United States of America citizens of monies in excess of EC $300,000.00 ECC. These monies were sent from the U.S. by the victims, to Grenada via money remitting agencies. The monies collected by approximately fifteen (15) Grenadian nationals at several locations around the island, were subsequently handed over to a local who later turned out to be the recruiter. The master mind behind the operation originated from Canada with US citizenship. 

As a result of the investigation, an operation was carried out during which one of the collectors was intercepted shortly after and cash in excess of three (EC$3,000) thousand dollars were recovered from him. Subsequently, the Officers of the FIU were led to one of the local hotels where a search warrant was executed in a room occupied by two Canadian Citizens and EC $14, 900.00 was seized. The male occupant, Denzel Roach, was identified as the person who travelled from Canada for the purpose of collecting monies from the recruiter in Grenada and was ultimately responsible for sending the monies out of the island to different parts of the world.

The local recruiter Francis Richards was subsequently charged with twenty two (22) counts of Money Laundering and Conspiracy to Commit Money Laundering and Denzel Roach was charged with two counts of Money Laundering and Conspiracy to Commit Money Laundering.

Both defendants appeared before the Chief Magistrate on May 23, 2013 where Denzel Roach pleaded guilty to all charges and Francis Richards pleaded guilty to sixteen counts of money laundering and the charge of conspiracy to commit money laundering.

On the conspiracy charge, Denzel Roach was fined EC $30, 000.00 forthwith, in default two (2) years in prison and on one count of money laundering he was fined EC $20,000.00 forthwith, in default two (2) years in prison, both sentences to run concurrently. He is presently serving time due to non-payment of the fine.

On the conspiracy charge, Francis Richards was fined EC $20.000.00 to be paid in nine (9) months, in default two (2) years in prison and on one count of money laundering he was fined EC $20.000.00 to be paid in nine (9) months, in default two (2) years in prison, both sentences to run concurrently. He was reprimanded and discharges on the other fifteen (15) money laundering charges.

All monies (EC $18,890.64) seized were forfeited to the State.

This may be the first successful development of a Suspicious Activity Report which resulted in a conspiracy to commit money laundering conviction in the OECS in recent times, if not the first in recorded history.

 
Francis Richards 
Grenadian National - Local Recruiter and Collector
 
Denzel Roach
Canadian National - Chief Collector 
 

 

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Grenada FIU

As the Unit advances towards greater efficiency and effectiveness, the primary focus would be to contextualize the current and impending AML/CFT risk within the jurisdiction and determine whether the current mechanism employed is appropriate.

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