The highly publicized money laundering case involving businessman Michael Coye and his daughter Melonie, who allegedly legitimized over a million dollars in ill-gotten funds concluded this afternoon in the Supreme Court. The case started three weeks ago and ended with a guilty verdict. The Coyes, directors of Money Exchange International Ltd., as well as employees Deitrick Kingston and Athlee Matute, were being tried for a second time after initially being cleared of the charge in October 2010. The Financial Intelligence Unit took legal action against the Coye family following the discovery of one point five million dollars in cash stowed in a suitcase inside a bedroom at their Johnson Street residence in late 2008. At the outset, Michael Coye, his wife Marlene, their children Jude and Melonie, as well as her husband James Gerou, were jointly charged with money laundering before eventually being cleared on October fifteenth, 2010. The F.I.U., however, subsequently appealed the case and was granted a retrial. Today, after deliberating for under an hour, a nine-member jury returned a guilty verdict of seven to two. Their attorney, Arthur Saldivar, says he’s disappointed with the outcome of the trial since the F.I.U.’s argument was fraught with irregularities. The jury, he believes, may not have fully understood the merits of the case.
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