Government is going after matters in the US—under the Unexplained Wealth law—where a potential US$123 million will be repatriated to benefit citizens.
Attorney General Faris Al-Rawi indicated this in the Senate yesterday saying proceedings are going on in the US on the situation. He was piloting a miscellaneous bill with amendments concerning various laws. This includes on the Financial Intelligence Unit, Proceeds of Crime, Anti-Terrorism Interception of Communication, Central Bank and Companies Registrar.
Al-Rawi said the Proceeds of Crime law involved a Seized Assets Fund which was very important since monies from court matters— involving the Unexplained Wealth laws—went into that fund.
He said Government is now expanding the system so that monies from infractions under the Proceeds of Crime law will go to the benefit of society.
He said there are currently several orders regarding Unexplained Wealth law before the courts where there are “10s and 20s of millions” involved, plus the proceedings with the US matters.
He said funds repatriated to T&T will assist in education, drug rehabilitation and other areas to benefit citizens—a critical contribution in T&T’s financial circumstances. He said the law would bring home justice to society.
The proposed amendments will also allow the state to list terrorist agencies such as ISIS, Al Qaeda and others and deal with persons in the same way the state froze the assets of Kareem Ibrahim who was declared a terrorist.
Clauses will also debar anyone working in the Anti-Terrorism unit from disclosing confidential information.
Another section calls for the FIU to inform the Police’s Financial Intelligence Bureau and the Police Complaints Authority if the FIU is investigating a police officer under the PCA’s watch. Al-Rawi said the TTPS hasn’t been seeing the kind of results for police misconduct the PCA has been advocating for. The AG rejected the Law Association’s call to hold on the bill.