Posted: January 18, 2016. 6:53 p.m. CST.
By Aaron Humes: Bahamian businessmen Rohn Knowles and Kelvin Leach are among six persons indicted by the U.S. Treasury Department for securities fraud in the hundreds of millions of dollars.
They were threatened with extradition to the United States and judgment on that is pending. However, the two have been challenging the raid on their Coney Drive Matalon Building offices in September 2014 which shut down Titan International Securities, the firm they operate.
On Friday, judgment was handed down in the Supreme Court in their favor, completely vindicating the pair, in the words of Senior Counsel Godfrey Smith.
We were unable to reach Smith today, but he reports that the constitutional claim against Government’s authorities including the Police Department and Financial Intelligence Unit found success in arguing that these authorities exceeded their powers and breached Titan’s rights.
Damages were awarded but a figure has not been named, as the judgment has yet to be finalized. According to Smith the final judgment will be delivered shortly.
At least one Belizean was named in the fraud scheme along with some Americans and Canadians.
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