7 News Belize

An International Man Of Mystery On San Pedro
posted (April 25, 2013)
Yesterday in San Pedro, Police customs and Immigration boarded a catamaran vessel called the Aventura which was docked at the Belize Yacht Club. On board they found, Italian Antonio Velardo, and Swede Leventa Arangos along with twenty two thousand US dollars. No customs declaration had been made for the money so it was confiscated and the two men were taken into custody.

Today, 35 year old Velardo was taken to San Pedro Magistrate's Court before Magistrate Sherigne Rodriguez and charged for failure to declare funds, according to the Money Laundering and Terrorism Act.

Velardo – who was represented by attorney Godfrey Smith - pleaded guilty and told the court that he did not know that a regulation existed that he had to make such a declaration.

Magistrate Rodriguez sentenced him to pay a fine of $5,000 forthwith, which he was able to pay, and she also noted that there was no intention to deceive authorities which was apparent in relation to this case. Both the police department and the FIU collaborated in the prosecution.

The Swede was the boat captain and was only responsible for a small amount of the money, so he was let off without charges. Velardo is written up on the internet as an Italian multi-millionaire in real estate investment and, according to our sources, seems to be interested in retiring or possibly seeking safe harbour in Belize. A puff piece written up on his company VFI in 2009 says the company, quote, "in three years has gone from zero to a sales revenue of €100 million Euros."

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