Within a 24-hour period FIU, along with the Belize Police Department and Custom’s personnel, have made two arrests for failure to declare money in excess of BZ$10,000.

On Monday morning, Belizean/American 52-year-old Michael Gregory McKoy, who had come home to visit relatives, was busted with US$51,118 in cash and cheques.  Mckoy was traveling from California and had failed to declare that he had more than $10,000 in his possession. Mckoy was busted with US$11,118 cash and US$40,000 in cheques, which totals

On Tuesday, Chinese/Belizean 30-year-old Wei Quan Zheng, a businessman of Front Street, Caye Caulker, was busted at the Phillip Goldson International Airport with US$23,695 in cash, along with $300 in Chinese currency, 40 in Canadian currency and 60 in Hong Kong currency. Zheng was charged on Wednesday with failure to declare funds before leaving the country. In court Zheng said that he had no idea that he was breaking the law. He asked for leniency and said that all the money was not his. Zheng said that he was going to China for the New Years celebration and was taking money from his Belizean friends to their relatives in China. After the facts of the charges were read to him, Zheng pled guilty to the offense. Magistrate Sharon Frazer told him that ignorance is no excuse to break the laws of this country. She asked him if he had not heard of the Mckoy case the day before. Magistrate Frazer then fined him $10,000 to be paid forthwith or in default, six months in prison.

When an individual is departing or arriving in Belize, that person must declare to FIU authorities if they are traveling with more money than the equivalent of BZ$10,000. This is done by filling out a form provided by Custom’s personnel.