Manchester businessman convicted for breaches of Proceeds of Crime Act
A Manchester businessman accused of conducting a $1.5 million cash transaction has been convicted for breaches of the Proceeds of Crime Act (POCA).
The police say 30-year-old Peter Blake, Managing Director of Jaime Auto Sales, pleaded guilty in the Mandeville Resident Magistrate Court yesterday and is to be sentenced on August 11.
The Area One Police say his conviction comes as part of their intensified probe into the activities of suspected scammers in western Jamaica.
The Jamaica Constabulary Force’s Corporate Communication Unit reports that he was arrested and charged last Saturday after a probe revealed that persons visited his business place in April and purchased a motor car for $1.5 million.
This is in breach of the POCA legislation, which places a $1 million limit on cash transactions that can be done outside the banking system.
Prior to his arrest, Blake was already facing similar charges after he and two other Manchester businessmen were arrested for allegedly purchasing 69 motor vehicles valued at $81 million between October last year and April this year.