Over $9 million, suspected to have been illicit gains, was recently confiscated from a Bulgarian national by the Special Organised Crime Unit (SOCU).
On October 29, the SOCU intercepted the Bulgarian national as he was entering Guyana at the Cheddi Jagan International Airport, with US$45,630 and €740.
The money was seized under the provisions of the current Anti-Money Laundering and Counter-ing the Financing of Terrorism Act.
Head of the SOCU Sydney James made the disclosure yesterday prior to the start of an Anti-Money Laundering training programme at the Bank of Guyana.
James said that information received by SOCU alerted them to the Bulgarian national. He said the man may have been involved in an ATM fraud but noted that the investigation was ongoing.
A search of the man’s suitcase revealed the money.
He said that after seizing the cash, the SOCU successfully applied to the court to further detain the money, for an additional 90 days from the date of the seizure, pending further investigations.
The Bulgarian national left Guyana the day after without the funds.
James stated that attorney Charles Ramson Jnr has since made contact with the SOCU as the man’s legal representative.
Head of the Financial Intelligence Unit Paul Geer lauded the seizure, while noting that the unit was able to seize suspicious funds weeks after being established.
