In the matter of Diamond Securities Inc (Civil Side: MC39/2015) [2015] SCSC 230 (24 June 2015);

     

     

 

IN THE SUPREME COURT OF SEYCHELLES

Civil Side:  39/2015

 

       [2015] SCSC 230

 

 

     

IN THE MATTER OF

DIAMOND SECURITIES INC

Applicant

 

Heard:                         24 June 2015

Counsel:                      Mr. Esparon for Applicant

 

Delivered:                   24 June 2015

 

D. Karunakaran, Ag. Chief Justice

 

  1. This is an application filed by the Financial Intelligence Unit (FIU) in terms of Section 10 (7) of the Anti-Money Laundering Act 2006, seeking an order for the extension of the direction issued by the FIU in respect of the property namely, the amount of USD 28,434.74/- standing to credit in the name of Diamond Securities Inc in USD account number 300000013084, hereinafter called “the specified property” held by BMI Offshore Bank Limited. 
  2. I meticulously perused the affidavit filed in support of this application, deponed by one Thomas Anthony Quilter, the Director of the FIU dated the 29th of May 2015.  I gave careful thought to the submission made learned State Counsel Mr. David Esparon in support of this application.  Based on the reasons given in the affidavit and in the light of the submission made by counsel I am satisfied of the following facts:-
  1. there are reasonable grounds to suspect that the specified property represents the proceeds of criminal conduct including an offence of money laundering or may be related to money or property that is or represents the benefit from criminal conduct;
  2. there are reasonable grounds to suspect that the service will constitute or assist in the commission of criminal conduct including an offence of money laundering; and
  3. the investigation by the FIU is till in progress.
  1. For these reasons I find it just and necessary that I should make the following orders.  I hereby make an order pursuant to Section 10 (7) of the Anti-Money Laundering Act 2006, extending the direction issued by the FIU on the 5th of January 2015 freezing the amount of USD 28,434.74/- standing to credit in the name of Diamond Securities Inc in USD account number 300000013084 (“the specified property”) held by BMI Offshore Bank Limited, for a further period of 180 days with effect from the 4th of July 2015.
  2. Orders made accordingly.

 

Signed, dated and delivered at Ile du Port on 24 June 2015

D. Karunakaran

Acting Chief Justice