In the matter of an application by the Financial Intelligence Unit vs DJS Capital Ltd and another (MA 72.2014) [2014] SCSC 102 (17 March 2014)

In the matter of an application by the Financial Intelligence Unit vs DJS Capital Ltd and another (MA 72.2014) [2014] SCSC 102 (17 March 2014)

The court found reasonable grounds to suspect the accounts are linked to criminal conduct and ongoing investigations, making it just and necessary to extend the freezing direction as requested by the FIU.

Citation
[2014] SCSC 102
Parties
Applicant: Financial Intelligence Unit; Respondent: DJS Capital Limited; Second Respondent: JN Capital Limited
Court
Supreme Court
Jurisdiction
Seychelles
Judgment Date
17 March 2014
Case Number
MA 72.2014
Procedural Posture
Civil Motion / Order on Motion
Outcome
Motion granted
Legal Topics
Freezing Orders, Extension of Freezing Direction, Proceeds of Crime
Source Language
English
Anti Money Laundering Criminal Law Freezing Orders Extension of Freezing Direction Proceeds of Crime

Case Brief

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Parties

Financial Intelligence Unit

Applicant

DJS Capital Limited

Respondent

JN Capital Limited

Second Respondent

Procedural Posture

Civil Motion / Order on Motion

Legal Issues

  1. 1 Whether there are reasonable grounds to extend the freezing direction on the specified accounts under the Anti-Money Laundering Act.

Ratio Decidendi

The court found reasonable grounds to suspect the accounts are linked to criminal conduct and ongoing investigations, making it just and necessary to extend the freezing direction as requested by the FIU.

Court Disposition

Motion granted

Orders

  • The freezing direction issued by the FIU on 5 December 2012 is extended for a further period of 180 days from 18 March 2014 in respect of USD Account no. 300000010778 in the name of DJS Capital Limited and USD Account no. 300000010344 in the name of JN Capital Limited, both held with BMI Offshore Bank Limited in...