Superintendent Raymond Gibson, the officer in charge of the Drug Enforcement Unit, told reporters Monday that police seized “a considerable amount” of money from suspects facing challenges in depositing the proceeds of crime.
In 2000, parliament passed some far-reaching pieces of legislation to strengthen the country’s anti-money laundering regime making it more difficult for criminals to deposit large sums of money in financial institutions.
Speaking at a ‘year in review’ press conference at Police Headquarters on East Street, Mr. Gibson reminded that there is no one method of laundering money.
“Experience has shown that money laundering methods range from the purchase of real estate, vehicles and jewelry to processing money through a complex national or international web of legitimate businesses and shell companies,” he said.
Mr. Gibson reported that in 2003, the DEU initiated 20 operations geared towards confiscating proceeds of crime, which netted nearly $3 million in cash.
Additionally, the courts confiscated numerous boats, motorcycles and cars, he said.
The courts have also seized apartment complexes, businesses, real estate and heavy duty equipment and have ordered financial institutions to freeze bank accounts of suspected drug traffickers pending the outcome of criminal proceedings, according to Mr. Gibson.
Mr. Gibson reported that police also made nine major drug busts last year.
Eight of those cases were connected to cocaine smuggling, with 44 persons being arrested and approximately 7,000 lbs of cocaine with a street value of over $77,000, being seized, he said.
Mr. Gibson said the multimillion-dollar illegal drug enterprise continues to be one of the more serious problems facing the country.
“Many of our uninhabited islands and our close proximity to South Florida make the Bahamas advantageous for transshipment and temporary storage of illicit drugs,” he pointed out. “Thus, traffickers continue to smuggle large quantities of cocaine and marijuana via go-fast boats from Jamaica to the Bahamas.”
He pointed out that drug traffickers also fly small aircraft through Cuban air space and drop bales of cocaine and marijuana in or near Cuban waters.
“The illegal contraband is usually retrieved by Bahamian go-fast goats that take the drugs to the Bahamas for further transshipments, primarily to the United States and occasionally to other markets,” Mr. Gibson said.
He revealed that intelligence shows that a percentage of drugs destined for the international markets and in transit through the Bahamas is used as part payment for services rendered by local drug traffickers.
He added that for various reasons, missed deliveries caused the illegal contraband to end up on beaches, finding its way into the community.
“This trend continues to be a challenge to law enforcement as it has an open and equal employment opportunity,” Mr. Gibson said. “Additionally, it has revolving doors. As Drug Enforcement Unit officers close drug houses, new drug houses at new locations are opened.”
By Hadassah Hall, The Bahama Journal
