3 Chinese Nationals Arrested For Illegal FX Trading
Following a lengthy and detailed investigation, personnel from the Financial Investigation Division (FID), Counter-Terrorism and Organized Crime Investigation Division (C-TOC) and the Major Organized Crime and Anti-corruption Agency (MOCA) on the morning of Friday, June 12, carried out operations in the business district of Montego Bay St James, targeting illegal foreign exchange operations. The team arrested and charged three Chinese nationals for breaches of Section 22 of the Bank of Jamaica Act.
The persons charged are Shiyue Zhou, 36 years old businesswoman and operator of HTC Wholesale; JieQung Zhou, 27 years old cashier and Ximei Wong, 42 years old.
The Financial Investigation Division and their partners are resolute in the fight against the underground money exchange economy which provides an avenue for money launders to go undetected and also artificially distorts the official exchange rate.
Mr. Selvin Hay, Chief Technical Director of the FID is reminding persons that it is illegal for anyone to engage in the trading of foreign currency without a license issued by the Bank of Jamaica.
The persons charged were offered station bail in the sum of $300,000.00 and they will appear before the St James Parish Court on July 1, 2020.
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