SOCU digging into James Bond funding
… As the land donations probe continues
Kaieteur News – The police’s Special Organized Crime Unit (SOCU) has begun combing through the funding of James People’s National Congress (PNCR) member James Reform, as it continues investigations into the state’s mainland donations at Peter’s Hall, East Bank. Demerara.
Sources close to the investigation confirmed this with Kaieteur News.
Bond also posted about SOCU digging into his money, on his Facebook page.
“Bore da Guyana. My persecution continues. All the companies I’ve dealt with are above board. All the clients I have dealt with are also above board. Yet the PPP convinced a Judge in the High Court to order SOCU to access my accounts. SOCU is now approaching people I’ve done business with asking questions like, did James Bond pay you this much money and why, ”Bond noted in his social media post.
The attorney-in-law has been accused of being the mastermind behind several land deals that saw 30 acres of state land being handed over to a Chinese national, Jianfen Yu.
Not only that, Bond was also said to have pocketed more than $ 120 million from both deals.
He was bused by two businessmen embroiled in the scandal – Director of Life 1 Pharms Inc., Avalon Jagnandan; and Director of AZ Pharmaceuticals Medical Supplies and Equipment Inc., Eddie Doolal.
While in police custody, Doolal and Jagnandan told police that not only was the senior PNCR member the brain behind the operations, but he received a large payment from both deals, totaling more than $ 100 million.
It was also not the only land deal that Bond allegedly benefited from.
Kaieteur News would have reported that Bond received a US $ 1 million payment from Trinidad’s logistics company, Lennox Petroleum, for the sale of 10 acres of leased land to ARKEN Group Inc.
In that deal, ARKEN and its principal, Jermaine Richmond, of NICIL leased 20.8 acres of land in Peter Hall on May 9, 2018 for a period of 20 years at US $ 16,224 per year. ARKEN later sold the 10 acres to local logistics company GLASS Holdings Inc. on October 10, 2019 for $ 200M.
Bond allegedly pocketed the money.
Documents received by Kaieteur News showed that the money was sent directly to a local bank account with Bond’s name on it as the recipient.
Such a large transaction should have triggered red flags right away but it seems, without triggering anything, that questions are raised about how many more large transactions like this have passed under the radar.
In accordance with the Anti-Money Laundering / Countering Terrorism Financing (AML / CFT) Act 2009, the city bank considered that the “reporting entity” was required to pay special attention to “all complex, unusual business transactions. large, unusual patterns of transactions, whether completed or not, have no apparent economic or legitimate purpose and are inconsistent with the profiles of the persons carrying out such transactions. “
That reporting entity would also have to “verify the background and purpose of the transactions or business contacts and record its findings in writing.”
That information would then be passed to the Financial Intelligence Unit.
The FIU was established and operates within the scope of the Anti-Money Laundering and Countering Terrorist Financing (AML / CFTA) Act 2009 and its Regulations.
The Unit, which is responsible for requesting, receiving, analyzing and disseminating suspicious transaction reports and other information relating to money laundering, terrorist financing or proceeds of crime, should have been informed of a Bond bank transaction, but was not.
In addition, a source from the Guyana Bank (BoG) explained to Kaieteur News that a Bond transaction should have raised concerns due to the simple fact that it was in the guise of political lime.
“If you’re a politically exposed person, PEP, one is supposed to be examined many times. It’s not just disappearing like that, going unchecked like that. PEP is viewed differently, so any transaction should have raised eyebrows, ”the source explained.
The transactions would have raised eyebrows for a number of reasons. There are few lands left on the stretch up to Diamond / Golden Grove.
Leased lands should not normally be sold by NICIL.
Investigators want to know why NICIL modified its clauses of the agreements to allow the principals in Peter’s Hall proceedings to sell, when other such documents prohibit.
It also happens that Bond is an active attorney-in-law.
Among other things, researchers wanted to know if the lands were being advertised so that every Guyana could have had a chance.