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Monday, 17 September 2012

"Whats That Dodgy Jersey Fund Called Again? Proceeds Slush....Something?"

Curbing drug trafficking gets Jersey $2 million

Jersey News from ITV Channel Television - drugs
A $2 million cheque is being presented to Jersey today for their efforts in stopping drug trafficking.

The cheque is being handed over by the US Homeland Security Investigations (HSI) to Timothy Le Cocq, QC.

Matthew Etre, Attache from the United States HSI is presenting the cheque to the Attorney General in recognition of the law enforcement assistance and support provided by Jersey.

The cheque is to recognise Jersey's help as far back as 2004, when the US authorities identified that over $8 million, believed to be the proceeds of a Colombian drug trafficking cartel, was in a bank account at BBVA in Jersey.

The money is to be paid into the Drug Trafficking Confiscation Fund.

The US Authorities had been in pursuit of these funds for a long time.

And with unsuccessful attempts to freeze the funds through the Cayman Islands and Switzerland, Jersey Law Officer's were successful.

They succeeded in obtaining a Saisie Judiciaire (freezing order) were over $8 million was forfeited.

Matthew J. Etre, HSI Attache, said, "I am pleased to share the forfeited proceeds of an illicit enterprise with the Bailiwick of Jersey for their efforts in this investigation.

"Law enforcement on both sides of the Atlantic are turning the tables on the bad guys. I look forward to continuing our strong partnership with the Bailiwick of Jersey"

Attorney General, Timothy Le Cocq said, "We are pleased to receive this sum which represents a share of the forfeited proceeds of crime.

"This will be used to continue our efforts to combat crime and to remove from criminals the illicit benefit of their criminal activities."

Colombia!!! I thought Jersey kept their Public Employees Contributory Retirement Scheme Funds in Colombia?

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