ST JOHN’S, Antigua, Aug 10 2015 –Antiguan authorities have reported that a BVI resident has been arrested and charged in relation to Money Laundering offences.
Times Caribbean Online has learnt that Cornell Penn, a 44-year-old BVI resident was arrested and slapped with two charges in St. John’s , Antigua.
The charges relate to the allegation that the BVI resident was discovered with over US$ 58,000.00 in his possession.
According to reports from Antigua Office of National Drug and Money Laundering Control Policy (ONDCP) Penn sailed a vessel to Antigua and Barbuda on Wednesday August 5, bypassed the entry requirements and failed to declare the large sum of cash.
Penn was charged and appeared in St. John’s Magistrate court on August 10. A person guilty of an offence of Money Laundering is liable on conviction to a fine of $200,000, but which may extend to one million dollars; and to imprisonment of a term of seven years.