The Government of St. Vincent and the Grenadines has collaborated with the United Kingdom, through various agencies to secure a confiscation order against Joseph Murphy, a UK national in the sum of £606,678.90.
A release from the Financial Intelligence Unit, FIU says through an asset sharing agreement, the sum of EC$100,000.00 was remitted to the authorities in St. Vincent and the Grenadines for the role played in the investigation, prosecution and subsequent confiscation of the assets of Murphy.
The sum of EC$100,000 represents fifty percent (50%) of the assets held in a financial institution in Saint Vincent and the Grenadines.
The release said from 2004-2010, Joseph Murphy and co-conspirators engaged in a scheme to defraud. Murphy was implicated in the theft of approximately 1.5 million pounds from Barclays Bank in the United Kingdom.
The monies were believed to have been laundered through the First Curacao Bank and various other institutions. Two (2) accounts at Barclays Bank were targeted in the fraud with the involvement of dishonest staff at the Bank, who have also been prosecuted and convicted as co-defendants in this case.
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