| MoneyGram’s Money Laundering Mess |
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| Written by Administrator |
| Thursday, 11 June 2009 13:44 |
 On the 16 of June, the Financial Intelligence Unit’s (FIU) case against the MoneyGram agency operated by the Coye family is scheduled to commence and as it does revelations which began to be made public last week now point to a solid case by the investigative organization. Last week Thursday, and for days following, the city was abuzz as investigators visited a number of well known Belize City persons to get statements as their names had been implicated as having received money through MoneyGram. The money was moved using names and traffic identifications stolen from the Belize City driver’s license database. Information is that as much as 35 million dollars was moved through Belize. In speaking with director of the FIU Marilyn Williams, she explains that the organization is putting its case together and so far they have not yet tallied how much money was actually transacted through Belize. She also says that the FIU is not yet certain how many names were actually used in the transactions. The Coye family consisting of 62-year-old Michael Coye, 55-year-old Marlene Coye, 33-year-old Melonie Coye, Jude Coye, and 37-year-old American national James Gerou were arrested after police found 1.5 million dollars at the family home in December of 2008. Then in March of this year, the police moved in at the MoneyGram agency located at the corner of Mahogany Street and Central American Boulevard where documentation was obtained as to the nature of business which was conducted at that agency’s location. The evidence secured during that search is what now suggests that the stolen Belize City driver’s license database was used for the transaction of money. The way it is believed to have operated is that the MoneyGram agency operated by the Coyes was connected to a company called Money Exchange International which offered a payment service to internet gamblers. The service offered was to gamblers using a sporting event gambling agency called Sportsbook which is based in Costa Rica. It should be noted that despite orders by the Magistrate’s Court to seize travel documents for the Coye family they were given authority to travel outside of the country. In the case of Melonie Coye, she was found to have traveled on at least two occasions to Costa Rica after having been charged for money laundering. Information to the Guardian suggests that the illicit activity at the MoneyGram agency began in December of 2007 and picked up in March of 2008 reaching its peak between August and September of that year. Since the investigation started, the master agent for MoneyGram in Belize was closed down by the parent company MoneyGram International located in Minneapolis Minnesota. Of note is that sister companies Omni Network which was the master agent for MoneyGram and Fultec Systems have come under scrutiny; Omni Network, because of its Master Agent Status, and Fultec Systems, because it was the company which set up the City Council’s drivers license system. Fultec had called a press conference for Tuesday June 9 to discuss the implications of the investigation on the company; however, at the last minute that conference was cancelled. No reason was given for the cancellation. |
| Last Updated on Thursday, 11 June 2009 16:06 |