KINGSTON, Jamaica – The Financial Investigations Division (Asset Recovery Agency) of the Ministry of Finance and Planning reports the successful forfeiture of five residential properties and two licensed firearms in the Supreme Court of Jamaica on January 14, 2014.

The properties and firearms have a combined value of approximately $72 million and include a lavish four bedroom house with a swimming pool in the upscale community of Hatfield Meadows, Ironshore, Montego Bay valued at $55 million and over 20 acres of farm land situated in Hazelymph, Hanover.

The properties belong to a Jamaican national currently residing in the United States and were forfeited following a lengthy investigation into narcotics and money laundering activities of a number of persons in Jamaica and the United States.

The properties were surrendered to the Asset Recovery Agency following a legal application by FID and involved lengthy negotiations with lawyers representing the individual both in Jamaica and in the US

The investigation began in 2011. This current forfeiture brings the total number of properties seized in this investigation to seven (7) with a combined value of over J$135 million.

As part of the same investigation, FID partnered with the Major Organized Crime and Anti- Corruption task force (MOCA) has charged a number of persons with money laundering, these cases are currently before the criminal courts.

FID in this ongoing investigation has restrained assets so far to the value of J$320 million.  Further investigations are being conducted by the FID in regards to eight additional properties valued over J$230 million.

FID was formed in 2001 and is tasked with the investigation of financial crime, money laundering and financing of terrorism matters. It works closely with both local and international law enforcement agencies in its efforts to “Take the profit out of Crime” and build confidence in the financial sector.