Summary:
An Ukrainian national with over 10,000 euros in cash, who claimed to be helping a friend, was convicted of money laundering in Monaco, raising suspicions of a Ukrainian money laundering network in the country.
Full Story:
A Ukrainian national has been convicted in Monaco for transporting over 10,000 euros in cash without declaring it. This case, which bears similarities to a recent incident, raises concerns about a possible Ukrainian money laundering network in Monaco. The man, a bus driver in Ukraine, appeared alone in court and claimed that he couldn’t afford a lawyer. He was visibly anxious and spoke Ukrainian, with the assistance of a sworn interpreter.
The individual was stopped in March 2024 on Place du Casino and found to be carrying 10,235 euros in undeclared cash. To cross European borders, any amount over 10,000 euros must be declared. The defendant stated that he knew about the declaration requirement but initially did not have that amount of money. He tried to justify the cash by explaining that he initially had only a hundred euros and had no intention of going to Monaco. However, he ended up assisting someone with a move, for which he was paid about 900 euros for gas, labor, and transportation.
At the police station, he claimed to have crossed the border with the 10,000 euros without meeting the acquaintance. He stated that the purpose of his trip was to buy a new car in Italy and that he had taken all his savings with him. The conflicting accounts led the prosecutor to request the confiscation of the entire sum and a fine of 1,000 euros. The defendant, feeling defeated and trembling, pleaded his good faith, stating that the money represented all his savings and that he had earned it honestly by merely helping people.
The similarities between the defenses of this individual and another Ukrainian defendant in a similar case have intrigued the prosecutor, suggesting a potential Ukrainian money laundering network. However, the offense in question solely concerns a failure to declare cash. The Monaco court found the defendant guilty of this charge, confiscated the entire sum, and imposed a 1,500 euro fine.
Source:
Monaco Tribune
