A visitor from the British Virgin Islands will face a magistrate today on charges related to US $58,000 which he failed to declare when he arrived in Antigua via boat last week.
Forty-four-year-old Cornell Penn was arrested and charged on August 7 by the Office of National Drug and Money Laundering Control Policy (ONDCP) for breaches of the Money Laundering Prevention Act.
The ONDCP alleges that Penn piloted his motor vessel to Antigua & Barbuda on August 5, bypassed the requirements for arrival into the country and reportedly failed to declare the cash which he had in his possession.
He was taken into custody, the cash was seized and Penn was slapped with four charges including failure to declare, money laundering and possession and possession with intent to carry out illicit activities.
Under the Money Laundering Prevention Act, it is an offence for anyone not to declare US $10,000 or more in cash, or the equivalent in another currency, or monetary instruments.
Section “18A(1) of the Act states, “A Customs Officer, Police Officer or ONDCP Officer on duty anywhere in the jurisdiction or a member of the Antigua and Barbuda Defence Force engaged in maritime duties may seize and detain currency if he or she has reason to suspect that it is an instrumentality in the commission of an offence against subsection 18(1) or 18(2) or is the proceeds of crime or is intended by the person for use in unlawful activity.”
Anyone who is convicted of the aforementioned offences could be fined from a minimum of EC $200,000 to $1 million. An additional penalty of seven years in jail could also be imposed.