Jamaica: Bahamian man on money laundering charges fined $1.3 million

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Jamaica: Bahamian man on money laundering charges fined $1.3 million

(JAMAICA GLEANER) – Bahamian Samuel Cummings has been fined $1,300,000 or six months imprisonment for breaching the Proceeds of Crime Act.

The sentence was handed down last Thursday by Parish Judge, Chester Crooks, after Cummings pleaded guilty to concealment of criminal property, possession of criminal property and cross border movement of cash.

It is reported that Cummings was charged after he arrived in Jamaica at the Norman Manley International Airport on February 9, 2019, on a flight from the Bahamas.

During checks of his luggage, officers from the Jamaica Customs Agency found US$30,000 concealed in a false compartment of his bags.

He denied knowledge of the money.

He also had US$4,771 on his person.

The matter was reported to the police and a joint financial investigation was conducted which resulted in Cummings being charged.

He subsequently pleaded guilty.

As part of his sentence, the court ordered the forfeiture of the cash concealed in his luggage and the cash found on his person, which amounted to US$34,771.

The Chief Technical Director of Financial Investigations Division, Selvin Hay states “the Financial Investigation Division along with its partners across law enforcement entities is committed to taking the profit out of crime and will robustly continue to detect, investigate, and prosecute those persons engaged in laundering the proceeds of criminal activity.

This guilty plea signifies the strength of the evidence and testifies to the collaboration taking place daily not only at our ports, but across Jamaica and the region. The legislation and enforcement of Jamaica’s anti-money laundering and countering financing of terrorism is crucial to Jamaica’s compliance with its obligations under the Financial Action Task Force (FATF) recommendations, and the overall strategic objective of protecting Jamaica’s financial sector from money laundering.”

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