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Money laundering legislation for Guyana soon, says minister
 

Published on Tuesday, March 6, 2007

GEORGETOWN, Guyana (GINA): The Money Laundering Prevention (Amendment) Act which is expected to be tabled in Guyana's Parliament shortly will provide for seizure of assets derived as proceeds of crime. These include money, investments, and real and personal property.
   

Wednesday, March 7, 2007

Grand jury indicts Plano man with mail fraud and making false statements in used car sales

By Pegasus News wire

 

A federal grand jury in Dallas indicted Massoud Mortazavi-Koupai of Plano with six counts of mail fraud and three counts of making a false statement on transfer of a used motor vehicle, related to a fraudulent scheme which included concealing structural damage and odometer discrepancies. It is anticipated that Mortazavi-Koupai, 46, will surrender to federal authorities and then appear before a U.S. magistrate judge.

 

“We are committed to addressing the issue of money laundering, and I am committing in this House that the money laundering legislation will be brought to this National Assembly shortly,” Minister of Home Affairs Clement Rohee said recently in Parliament.

The new legislation is expected to incorporate the 40 recommendations of the Financial Action Task Force (FATF) on Money Laundering, along with an additional nine recommendations relating to terrorist financing.

A final draft of the legislation was completed but because it was handed over about two-weeks prior to the dissolution of Parliament in April 2006, the legislation could not have been passed.
 

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