Résumé:
A Ukrainian man forgot to declare 35,000 euros in cash when entering Monaco and used a portion of the money to buy a Rolex, resulting in a fine of 4,500 euros.
Histoire complète :
An Ukrainian man appeared before the Monaco Court of Justice on January 7, 2025, facing charges for failing to declare cash funds upon entering Monaco. The 38-year-old man, who resides in Cannes, was tried for an incident that occurred on May 22, 2024. During a routine check in Monaco, authorities discovered that he was carrying nearly 35,000 euros in cash without declaring it, which is a violation of Monaco’s legislation. In Monaco, the cash payment limit is set at 30,000 euros, and since 2022, anyone entering or leaving the Principality with 10,000 euros or more in cash is subject to control, police investigations, and asset seizures if there are doubts about the origin of the funds.
When apprehended, the man was taken to the Public Security headquarters where he refused to speak and requested the presence of his lawyer, citing his limited command of the French language. Later, he explained that he had come to the French Riviera with an initial sum of 100,000 euros loaned to him by a friend in March 2024 to start a business. Facing administrative difficulties in realizing his project, he claimed to have decided to use some of the money to buy a luxury Rolex watch, considering it a “good investment.”
The defendant pleaded good faith, stating that he was unaware that he was in violation of the law by carrying the money. The presiding judge questioned the logic of purchasing a Rolex watch in the context of starting a business, to which the man replied that “where he comes from, image matters” and that he believed it would be a good investment that he could later resell.
The prosecutor highlighted the inconsistencies in the explanations provided, emphasizing that there was no clear link between buying a watch and starting a business. The prosecutor requested fines and confiscation of the undeclared funds as penalties. The defense lawyer argued for an acquittal, citing the defendant’s limited language skills and his right to remain silent until his lawyer was present. The lawyer also mentioned the defendant’s intention to repay the money borrowed from his friend and his commitment to comply with Monaco’s legislation.
The defendant, who had no prior convictions, has not yet repaid the loan and still intends to start his own business. After deliberation, the court found the defendant guilty and imposed a fine of 4,500 euros without confiscating the funds. The defendant once again expressed his apologies at the end of the trial.
Source:
Monaco Tribune
