Charges against Banks dismissed for lack of evidence

It’s a formality to an announcement made at the last meeting of the House of Representatives, and today in Magistrates’ Court the one hundred and thirteen charges of Failure to Report a Suspicious Transaction brought by the Financial Intelligence Unit against FirstCaribbean International Bank, were dismissed. But when the matter came up this morning, it was not without its share of drama. Attorney Marilyn Williams on behalf of the F.I.U. requested that charges be withdrawn, but Attorney for FirstCaribbean Derek Courtenay, did not agree. Courtenay submitted that a request was made for disclosure and the Chief Magistrate Margaret McKenzie had ordered that disclosure be provided by today, but neither he nor his client, have received the information. Courtenay also submitted that the matter has received a great deal of publicity and various allegations have been made against the bank and as far as he is aware, no deal had been worked out between FirstCaribbean and the F.I.U. Courtenay pointed out that the bank operates locally and internationally and that its business depended on its integrity and reputation. He felt that because the bank’s reputation had already been damaged, in fairness to the bank, the charges should be dismissed instead of withdrawn. Courtenay called upon the prosecution to call its witnesses so that the Bank can defend its reputation and prove that it is not guilty. Magistrate Dorothy Flowers dismissed the charges. FirstCaribbean was also represented by Attorney Ellis Arnold. Seventy-nine charges for failure to disclose suspicious transactions brought against the Belize Bank were similarly dismissed yesterday for lack of evidence.