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Jul 15, 2015

Belize Named in Money Laundering Scheme

Today, Director of the Financial Intelligence Unit, Eric Eusey, told News Five that his department has no knowledge of the circumstances surrounding the arrests of two Americans and a Panamanian in the US for money laundering last week. The men – James Shipman, Kenneth Landgaard and Michael Dodd, were arrested in a sting operation after allegedly laundering four hundred thousand US dollars through banks in Belize and Panama. That money was provided to the men by an FBI agent working undercover. After the men successfully laundered the four hundred thousand, they flew into New York in a private plane expecting to receive another two point two million US – similarly destined for washing in banks in Belize and Panama. And that’s when the net closed around them. It’s not the first time Belize has been mentioned in the same sentence as words like money laundering and financial fraud. Just last month American Gregg Mulholland was arrested and charged for taking part in a Belize-based scheme involving a company called Cynk Technology Corp. And before that, in 2014, several offshore securities trading companies operating in Belize – including Titan International Securities, Legacy Global Markets and Unicorn International Securities – were accused of defrauding the US of just over one billion dollars in taxes.

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2 Responses for “Belize Named in Money Laundering Scheme”

  1. MNHG says:

    HA !!!
    UNO SEE WE DI GO AAN , I MI THINK DA ONLY PETROCARIBE THE ROLL INA MI COUNTRY !!!

  2. Timber says:

    LOL. I’m laughing my a.. off because it was only yesterday I was on the phone with someone talking about FIU and you, Eusey. I didn’t even know you were around . I knew you as a younger boy. Look where they have you; a position where you’re inept as a lot of the other political flunkies like Yzaguirre at Central Bank, Joy Grant, hustling Godwin Hulse, and the list goes on. I had read some comments you had made a couple weeks ago right here on Channel 5 and mused about how stupid and uninformed you and a whole lot more people could be. You talked about Belize having one of the quickest turnaround times in this region and you were boasting and proud of it. Speed doesn’t make you good Mr. Eusey, efficiency does, and speed only enhances your credibility, coupled along with efficiency. My friend and I were on a lengthy conversation about how the pressure from the US has really affected Belize. Belize was forewarned from 2009 and again in 2011 and again in 2013 as the US tightened its grip on countries who were loose in its practices. I guess you all thought that day would never come. It’s going to get worst in 2016. Instead of you hounding the small man like car dealers, whom you know what their business is, hound the politicians who have amassed wealth by hustling Belize. Make them accountable for their money. You have strict regulations on Belizean Americans who are trying to return to Belize and build a decent home and share their educational and professional experiences, but yet you freely let white Americans, Canadians and Asians come in and borrow hundreds of thousands of dollars and even millions to start projects, projects mind you, that at least 65% of them fails. Look at Archies on Central American Boulevard, a complete disaster with a couple of million dollars in the hole to Heritage. No one can salvage that building. Look at the massive foreclosures for Scotia bank and their dilapidated properties that they want absurd amounts of money for, that no one is going to buy. You want to stimulate the economy, encourage affordable home ownership in Belize and lower interest rates. Reduce tariffs on certain mostly used goods and encourage more farming through our locals. As someone formerly employed in the financial industry, none of you are equipped to handle this Offshore rules and regulations and it will only get worst; unless you totally ignore Uncle Sam. You all running behind Dean Barrow and his band of thieves screaming PetroCaribe, watch the situation Belize will be in about three years from now. How many of you know the real issues and treaty behind Petro Caribe? I was in Belize recently and only John Mencias came close to sort of explaining that treaty and the conditions behind it. He had 60% of it right. I’ve said before, that PetroCaribe treaty will be equivalent to the US housing bust when people were obtaining mortgages on “Stated Income” only. Unfortunately, Dean and his hustlers might be out of power and PUP will feel the blunt of the people’s wrath because Cruffy are so used to handouts. Then, we will see who’s going to “Roll It,” I digress.

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