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UPDATE – UPDATE – UPDATE, Owner Of Money Exchange Establishment In Corozal Detained

UPDATE – UPDATE – UPDATE, Owner Of Money Exchange Establishment In Corozal Detained
November 07
07:30 2019

Owner Of Money Exchange Establishment In Corozal Detained

Thursday, November 7th. 2019 – UPDATE –

The Reporter has confirmed that on Tuesday (November 5th.) Police charged Kishore Kumar, owner of Almacen Shanti in Corozal for operating a money lending business without a permit. He appeared in court and pleaded not guilty and was offered bail in the sum of $150,000. On October 31st a search of Kumar’s property yielded a large sum of cash in various denominations.

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Monday, November 4th. 2019 –

The Proprietor of Almacen Shanti in Corozal Town has been detained by Police pending charges of operating a Casa De Cambio without a valid permit. Last week Thursday a joint team of Police Officers, F.I.U. and Income Tax personnel conducted an all-day raid of the business establishment, resulting in the discovery of US$60,000. Which they declared, and an additional undeclared US$74,000, BZD$181,000, $1.6 million pesos, 350 Canadian Dollars, 122 thousand dollars in Indian currency and a couple hundred quetzales. According to Police, the proprietor of the store is operating illegally as a money changer.

The Income Tax Department confiscated the US $74,000 that was concealed in the building and which they failed to declare. Police Commissioner Chester Williams says that the successful operation is part of the Police’s continued efforts in cracking down on white collar crimes, tax evasion, money laundering operations and persons who are suspected to be involved in the illegal landing of drug planes.

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