NLA selling MoBay properties formerly designated as criminal proceeds
The National Land Agency, NLA, has in its possession three multi-storey residential homes and two plots of residential land that it now wants to offload, after getting the greenlight from the courts to dispose of the assets that were determined to...
The National Land Agency, NLA, has in its possession three multi-storey residential homes and two plots of residential land that it now wants to offload, after getting the greenlight from the courts to dispose of the assets that were determined to be acquired from criminal proceeds.
The three multi-storey residential homes are all located at Westgate Hills in Montego Bay, the capital of the parish of St James, which is now associated with money laundering and lottery scams.
The two plots of land are located in the neighbouring parish of Trelawny, where some of the criminal gangs are said to have migrated.
The NLA told the Financial Gleaner that properties were vested to the NLA/Commissioner of Lands under Section J of the Proceeds of Crime Act, which allows a judge to forfeit illicit assets to the Crown or otherwise order a defendant to pay to the Crown an amount equal to the value of the benefits.
NLA has been advertising the properties for sale in the press. It’s seeking sealed bids for Lot 498 Coral Spring Village, Phase Four Trelawny; Lot 155A Flamingo Beach, Trelawny; and three two-storey houses located at Lot 16 Fairview Drive, Westgate Hills; Lot 430 Valley View Drive, Westgate Hills Phase 2, and Lot 762 Westgate Hills Phase 3.
Bids are due by October 5, but the offers will be evaluated prior to selection of winning bids.
“The proceeds of sale go to the Consolidated Fund,” the NLA told the Financial Gleaner.
Guided by the Land Acquisition Act, normally the NLA will only purchase residential properties under extraordinary circumstances, for example, where the land is needed for the development of public infrastructure, such as highways.