7 News Belize

Titan Securities Case Still In Chambers
posted (October 30, 2014)
For almost the entire day, Chief Justice Kenneth Benjamin was busy with the billion-dollar securities fraud case which has made it to the Supreme Court due through the efforts of the Financial Intelligence Unit.

The convocation of legal eagles representing the 6 men and the 6 companies indicted by a federal court in New York were back in court on Tuesday. They were dealing with preliminary issues that have emerged in the case. They all returned today, and will be back tomorrow for the continuation of the in-chambers hearing.

So, what's being discussed in these hearings? Well, we can't tell you because at this time, the media is not allowed to sit in and listen to the progress of the trial.

The last we heard was the Financial Intelligence Unit was trying to convince Chief Justice Benjamin to freeze the local bank accounts and funds connected to these 12 defendants. That was last week Tuesday.

This case holds great importance it is the first time that securities and penny stock fraud, US white collar crimes, are being prosecuted in Belize, which has no such laws against it.

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