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May 6, 2014

Despite a court ruling, Coye family still has no access to their monies

On Monday, the Coye family enjoyed a short-lived legal victory when the Supreme Court ordered that their assets, amounting to millions of dollars in cash, be unfrozen.  The family’s holdings have been fixed in various bank accounts since 2010, following a directive from the Financial Intelligence Unit, due to money laundering charges that were brought against them.  Since being freed on bond late last year, Melonie and her deceased father Michael Coye have been trying to access their funds.  Despite legal wrangling with FIU and the Income Tax Department, the monies would remain frozen.  Justice Griffith’s decision dismissed all claims made by FIU and Income Tax, as well as Internet Experts, a private company which claims that they are owed by the Coyes.  While the court ruled in the Coyes’ favor an urgent application for an injunction to prevent access to those funds was successful in another courtroom.  Senior Counsel ‘Dickie’ Bradley told News Five today that the interim injunction will expire next week.


Via Phone: Richard ‘Dickie’ Bradley, Attorney for Coye Family

Richard ‘Dickie’ Bradley

“The Coye Family had made an application to the Supreme Court to discharge an order made in 2010 that all funds, their personal bank accounts, their credit union accounts, every accounts involving the Coye family and a business that they were operating at the time; all those monies in those accounts were frozen in 2010 by virtue of the fact that a criminal allegation was made against the family and the business.  Finally, that matter came to an end on March fourth, this year, in the Court of Appeal and they were exonerated from the allegations that they had been guilty of money laundering.  So what they did was made an application to the court that the court, not the criminal court but the Supreme Court had made an order to freeze their funds and yesterday Justice Griffith heard arguments from other parties.  The Financial Intelligence Unit had said that they were no longer objecting to the funds being unfrozen and other parties appeared, the government lawyers appeared from the Solicitor General’s Office to ask that the funds remain frozen because Income Tax would have wanted to see if they could charge more monies.  That argument did not stand with the judge and her ladyship said that in fact they had sufficient time, they had made an assessment and the FIU had given a written affidavit by Eric Eusey, the new director of the Financial Intelligence Unit, to say that funds that he was holding were paid over to the Income Tax Department on Friday, May second, of this year.  Those monies were paid in many years ago by another company who was also charged for money laundering.  Those charges were withdrawn from that company and they were saying, “Oh, that money belongs to the Coyes.”  That is a separate argument.”

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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