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Mar 13, 2014

Coye family’s financial situation lies in the hands of the FIU

Last week, the Court of Appeal overturned a conviction on money laundering charges for the Coye family. Melonie Coye, on bail pending the appeal hearing, has been acquitted, but the victory is tragically bittersweet. On November fifth, just five days after he received bail, Melonie’s father Michael Coye died of a massive heart attack. And because the family’s accounts have been frozen since 2009, they struggled to find money to bury him. Besides the life of their patriarch, the Coye family has lost everything, including its business and reputation. But in the midst of their grief, there seemed to be a bright spot, as the Court of Appeal also ruled that the government of Belize had sixty days to return one point five million dollars seized from the Coye home. But the dark shadow which has followed the Coye family for five years hasn’t passed just yet. The Income Tax Department has assessed unpaid taxes at over three million dollars, fifty percent of the Coye family assets frozen by the Financial Intelligence Unit. Today, News Five spoke to Director of the FIU, Eric Eusey, off camera. He told us that the assessment by the Income Tax Department was done in 2010, and not to coincide with the exoneration of the family. According to Eusey, the FIU has twenty-one days in which to decide if it will appeal the case. If it does so, all assets will remain frozen. If there is no appeal, the Income Tax Department will be given its three point two million, after which the Coye family assets will be released. So at this point, the Coye family fortune, financially and legally, lies largely in the figurative hands of the FIU, and a decision to appeal, or not to appeal. 

Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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1 Response for “Coye family’s financial situation lies in the hands of the FIU”

  1. curious says:

    I wonder what the Coye’s did to the UDP government. Is he a PUP guy? If he is then I now understand. But d rascals eena powa, dey done killed d poor man now dey want to “squeeze the fat outta lice”. Melany, sue dem fi ova ten millian dallaz gial. Sue dem big time caaz dey no hav no massey pan unu. Go fi di max.

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