TRINIDAD & TOBAGO: SOU SOU PYRAMID SCHEME A FRONT FOR ‘WASHING DIRTY MONEY’

On 26 September, the Trinidad & Tobago Journal reported on the seizure of $22 million in possibly one of the biggest money laundering operations in the country.  It says that it has now been linked to several law enforcement officials with powerful connections and underworld figures who are using the scheme, described as a pyramid scheme, to clean dirty money. The raid was on a sou sou, a sort of informal mutual savings club.  In August, the Financial System Regulatory Authorities: the Trinidad and Tobago Securities and Exchange Commission (TTSEC), the Financial Intelligence Unit of Trinidad and Tobago (FIU) and the Central Bank of Trinidad and Tobago (CBTT) issued a warning about pyramid schemes, including those masquerading as a sou sou.

https://www.guardian.co.tt/news/police-intelligence-pyramid-scheme-a-front-for-washing-dirty-money-6.2.1221982.bd0862db1c

I had left off this link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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