Chinese national Ying Xin Su, a 30-year-old travel agent who was previously charged with unlawful possession of a firearm and ammunition without a licence, was on Thursday charged with seven counts of money laundering by the Special Organised Crime Unit (SOCU).
Ying Xin Su appeared at the Georgetown Magistrates’ Court before Acting Chief Magistrate Faith McGusty, where she was not required to enter a plea to the seven indictable charges. However, the court granted Su bail in the sum of $1,500,000.00 for each charge of money laundering, in contravention of Section 3 (1) (c) of the Anti-Money Laundering and Countering the Financing of Terrorism Act, Chapter 10:11.
On the same day, Su appeared before Principal Magistrate Judy Latchman at the Diamond Magistrates’ Court, where she was charged with one count of money laundering, contrary to Section 3 (1) (c) of the Anti-Money Laundering and Countering the Financing of Terrorism Act, Chapter 10:11. She was placed on $200,000.00 bail. All cases were adjourned to 17 April 2025 for report.
The Special Organised Crime Unit contended that investigations revealed that on 9 July 2024, members of the Guyana Police Force searched Su’s room at the Princess Ramada International Hotel, Providence, East Bank Demerara, for gold smuggling and discovered $52,000,000.00, including foreign currencies amounting to USD$5,480.00, BDS$97.00, and SD$662.00. Additionally, an illegal firearm and ammunition were found in her possession.
A summary of the charges revealed that Su had acquired or possessed several properties and motor vehicles, knowing or having reasonable grounds to believe that these assets were derived, in whole or in part, directly or indirectly, from the proceeds of crime, constituting money laundering.
According to the Head of the Special Organised Crime Unit, Deputy Commissioner Fazil Karimbaksh, these money laundering investigations had been ongoing for the past eight months, and now was the opportune time to institute charges.
Several other money laundering investigations remain ongoing, and authorities are warning individuals engaged in this illicit practice that the long arm of the law will catch up with them and they will be prosecuted.
