A Chinese national who was earlier charged with possession of an unlicensed firearm was on Thursday charged with money laundering.
The woman Ying Xin Su – 30 appeared in the Georgetown Magistrates’ Court before Acting Chief Magistrate Faith McGusty where the Special Organised Crime Unit (SOCU) brought seven counts of money laundering against her for which she was released on $1.5 million bail.
Ying also appeared before Principal Magistrate Judy Latchman where one count of money laundering was read to her for which she was released on $200,000 bail.
During a search of Ying’s room at the Princess Hotel ranks of SOCU found $52 million in local and foreign currency.
It was also said that the young woman acquired several properties and motor vehicles knowing or having reasonable grounds to believe that the properties and motor vehicles were derived in whole or in part, directly or indirectly from proceeds of crime which amounted to money laundering.
Head of the Special Organised Crime Unit Deputy Commissioner Fazil Karimbaksh said the money laundering investigations have been ongoing for the past eight months and now is the opportune time to institute charges.
Several other money laundering investigations are ongoing, and the Deputy Commissioner said this should serve as a warning to those persons engaged in the illicit practice that the long arm of the law will catch up to them and they will be prosecuted.