The entire Coye family from Johnson Street – the father 62 year old Michael Coye, his wife 55 year old Marlene Coye and their 33 year old daughter Melonie spent the first two days of 2009 in jail. That is because on New Year’s Eve – the Financial Intelligence Unit made its biggest bust ever when their personnel along with police searched the Coye home at number 12 Johnson Street and found loads of cash stuffed in bags and suitcases. It took hours to count and it added up to 1,557,789 Belize dollars. The cash was in different denominations and it included U.S. dollars. The Financial Intelligence Unit says it is money laundering but the Coye family says they are legitimate business people and they just didn’t have time to go to the bank. We have both sides but we begin though with the FIU.
Keith SwiftReporting
The sign says it is a flower shop but on New Year’s Eve police and investigators from the Financial Intelligence Unit found the $1.5 million in cash inside this house at number 12 Johnson Street.
Marilyn Williams, Legal Counsel for FIU
“We received certain information and based on the information received the FIU sought the services of the Police Department and we acted on that information and hence the search.”
Keith Swift,
What did you find?
Marilyn Williams,
“A large amount of cash as you know was found at the residence and it has been taken into custody the police.”
Keith Swift,
Where in the house did you find the money?
Marilyn Williams,
“I believe it was in bags in the house, in suitcases. They haven’t offered any explanation other than that they conduct a business and they didn’t want to deposit the money in the bank.”
That business in the center of the
investigation is this Money Gram agent at the corner of Mahogany Street and Central American Boulevard – which was closed today. Legal counsel for the FIU Marilyn Williams says they made their move on Wednesday evening because they had to.
Marilyn Williams,
“We did feel that there was a concern that the money might have been moved and so because of that we acted as swiftly as we possibly can. We did know that there was a concerted effort to try to move but that it was proving rather difficult.”
Jules Vasquez,
Do you suspect that this particular Money Gram agent had been in business processing these large sums of cash and if they were, should large movements of cash be reported as per requirement to FIU?
Marilyn Williams,
“Large movement of cash does get reported to the FIU if it is of a suspicious nature.”
And Williams says “of a suspicious nature” is relative.
Marilyn Williams,
“There is a threshold that we have that any movement of monies, $20,000
and over, ought to be reported to the FIU but more importantly it could be left than that amount if the activity itself raises suspicion. It places an obligation on the entities who are involved in the movement of cash to be ever alert in the actions of their patrons.”
Patrons like Florence Gomez - to whom none of what is happening matters. We met her outside the Money Gram agent waiting to receive money.
Florence Gomez, Money Gram Customer
“I come here every time to get money and when they called me this morning and I came here, the place wasn’t open. I need the money, I need it today. I have an emergency I have to deal with today.”
But Williams says – the investigation is bigger than just this one agent.
Marilyn Williams,
“This is really just the tip of the iceberg of this investigation. I can’t begin to tell you what we will ultimately come across. All I can say is there was enough of an initial piece of information that we received and it was corroborated to give us the momentum to move in and confiscate what we have confiscated so far.”
The FIU also seized several computers and boxes of documents from the office of Money Gram on the Boulevard. This evening Michael, Marlene, and Melonie were arraigned on a single count each of money laundering. Two additional defendants were named – Jude Coye and 37 year old American national James Gerou. Jude is the Coye’s son and he has reportedly been out of the country for months. Gerou though is Melonie’s boyfriend and was originally detained but somehow got released.
