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New Trinidad & Tobago $ money polymer notes

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The_Honourable
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Re: New Trinidad & Tobago $100 polymer note

Postby The_Honourable » January 22nd, 2021, 3:48 pm

Police holding pastor's millions given two-week extension

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SEIZED: Boxes said to contain $29m in paper $100 notes at a national security facility. The money was brought to the Central Bank on December 31, 2019 by pastor Vinworth Dayal who wanted to exchange it for the new polymer notes which are now legal tender.

Police investigating the source of funds garnered by Pastor Vinworth Dayal were granted a two-week extension to withhold some $29 million they seized during the 2019 demonetisation of the old $100 bill.

Prosecutors asked for the extension at a virtual court hearing on Friday, saying a file on the case is in the hands of the Director of Public Prosecutions (DPP) and investigators are awaiting his response.

The matter was adjourned to February 10.

On December 31, 2019 – the final day of the two-week demonetisation exercise – Dayal, head of the Third Exodus Assembly Church in Longdenville Chaguanas, showed up at the Central Bank with 29 copy-paper boxes, each containing $1 million in $100 bills. He wanted to exchange them for the new polymer bills.

He said they came from tithes donated to his church.

Financial Intelligence Unit officers seized the money. Dayal was not arrested but was made to account for the source of the funds.

About a week later, an additional $2.6million was seized from his home in Gulf View.

This time the bills were in $20, $10, $5 and $1 denominations.

Under the Proceeds of Crime Act, police are allowed to withhold any cash that is suspected of being accrued through illegal means, for a maximum of three months. After that, they must go to the courts for an extension.

The proceeds are held in an interest-accruing account. If it is found that no crime is committed the full amount is returned to the owner.

Source: https://newsday.co.tt/2021/01/22/police ... extension/

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Re: New Trinidad & Tobago $100 polymer note

Postby Rovin » January 22nd, 2021, 6:49 pm

hmmm jes last wk i talking with my worker wondering what became of this case

if d popo cyar prove d $$$ was gotten illegally then d owner has all rights to it ...

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demonitization of bills issued before 2020

Postby sMASH » June 3rd, 2021, 9:32 pm

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is this govt 4 kin mad.

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Re: demonitization of bills issued before 2020

Postby teems1 » June 3rd, 2021, 9:37 pm

6 months notice is enough imo.

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Re: demonitization of bills issued before 2020

Postby redmanjp » June 3rd, 2021, 9:38 pm

End of year. They expecting plenty vaccine soon so maybe herd immunity before then.

Otherwise expect a fourth wave and 2nd SOE come January and February next year as a result of congregating in banks.

but hopefully ppl start to get rid of it gradually from now during their usual transactions so there isn't the last minute rush
Last edited by redmanjp on June 3rd, 2021, 10:09 pm, edited 1 time in total.

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Re: demonitization of bills issued before 2020

Postby paid_influencer » June 3rd, 2021, 9:52 pm

well it says the central bank will "Indefinitely redeem said notes for face value," under 2(b)

so it seems the notes will not lose value like the old 100's

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Re: demonitization of bills issued before 2020

Postby sMASH » June 3rd, 2021, 9:58 pm

teems1 wrote:6 months notice is enough imo.

imburt, is taht u?

rebutting it seems to be stating the obvious









the last time had to be extended, and was just one type of note
now its 5 other types of notes.

u have SoE, curfew, borders closed, people trapped outside, people falling down dead.

the notes gonna be thousands per person potentially, how u sanitizing all that

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Re: demonitization of bills issued before 2020

Postby sMASH » June 3rd, 2021, 10:05 pm

paid_influencer wrote:well it says the central bank will "Indefinitely redeem said notes for face value," under 2(b)

so it seems the notes will not lose value like the old 100's

it will cease to be legal tender by the cessation date. technically means u cannot use them as money. u will have to go central bank to get them changed after. no one will be legally able to use them.

they will have no value as currency, but cb will not put a time limit on how long they will keep exchanging at this time.

are the new notes available for exchange now?

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Re: demonitization of bills issued before 2020

Postby redmanjp » June 3rd, 2021, 10:15 pm

sMASH wrote:
paid_influencer wrote:well it says the central bank will "Indefinitely redeem said notes for face value," under 2(b)

so it seems the notes will not lose value like the old 100's

it will cease to be legal tender by the cessation date. technically means u cannot use them as money. u will have to go central bank to get them changed after. no one will be legally able to use them.

they will have no value as currency, but cb will not put a time limit on how long they will keep exchanging at this time.

are the new notes available for exchange now?


we already getting the new ones via the atm. as far as i understand from july they will start exchanging. but as we in the thick of this pandemic ppl should not just go for the sole purpose of exchanging notes unless u conducting other business at the bank.

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Re: New Trinidad & Tobago $100 polymer note

Postby sMASH » June 3rd, 2021, 10:33 pm

work with the constraints rather than do sumting more sensible.

what prevents them from making the devalue date 2023?

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Re: New Trinidad & Tobago $100 polymer note

Postby j.o.e » June 3rd, 2021, 10:43 pm

It’s small notes. Just spend it. Groceries already send old notes to the bank and don’t give them as change so it will only increase now. Just spend it at big entities not at the lil small man who might not be banking.

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Re: New Trinidad & Tobago $ money polymer notes

Postby The_Honourable » June 4th, 2021, 12:04 am

For clarification:
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Colm Imbert Twitter.jpg

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Re: New Trinidad & Tobago $ money polymer notes

Postby Gem_in_i » June 4th, 2021, 1:43 am

People wasn’t reading the whole notice and start panicking…

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Re: New Trinidad & Tobago $ money polymer notes

Postby st7 » June 4th, 2021, 3:04 am

Gem_in_i wrote:People wasn’t reading the whole notice and start panicking…


as usual lol

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Re: New Trinidad & Tobago $ money polymer notes

Postby Rovin » June 4th, 2021, 1:42 pm

thing is when u spend new notes places u buying from still giving back change in old notes, so its not really coming out of d system as yet but now that notice have been given i hope old notes start to get put aside & removed ...

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Re: New Trinidad & Tobago $ money polymer notes

Postby The_Honourable » July 1st, 2021, 6:19 pm

$10 million bail as Pastor Dayal charged with money-laundering

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A pastor from south Trinidad, who allegedly attempted to change almost $28 million in old $100 notes into new polymer replacements on the deadline for doing so almost two years ago, has been granted $10 million bail after appearing in court charged with money laundering.

Pastor Vinworth Dayal, of Gulf View, La Romaine, was granted bail, a short while ago,after he appeared before Magistrate Maureen Baboolal-Gaffor on two charges under the Proceeds of Crime Act.

Dayal, who is the head of the Third Exodus Assembly Church in Longdenville, is accused of being in possession of a total of $30,719,938 in cash knowing that part or all was the proceedings of criminal activity contrary to the Income Tax Act.

During the hearing, a close friend was named as Dayal’s surety for his bail. As part of his bail conditions, Dayal was ordered to surrender his passport.

Dayal came under the police’s radar after he attempted to change $28,028,600 in old $100 notes at the Central Bank on December 31, 2019.

Officers of the Financial Investigation Unit (FIU) executed a search warrant at the church and allegedly found $2,691,338 in smaller denominations.

The money was detained under the legislation with the latest renewal of the detention order being granted yesterday.

In the event that Dayal is eventually exonerated he can apply for the money, which has been deposited in an interest bearing account, to be returned. Police can also seek to initiate forfeiture proceedings.

Dayal was represented by John Heath and Chase Pegus.

Dayal is scheduled to reappear in court on July 29.

Source: https://www.cnc3.co.tt/10-million-bail- ... aundering/

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Re: New Trinidad & Tobago $ money polymer notes

Postby elec2020 » July 1st, 2021, 6:21 pm

no surprise.

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Re: New Trinidad & Tobago $ money polymer notes

Postby daring dragoon » July 1st, 2021, 6:33 pm

the pastor get plenty plenty titties and the govt want to take it.

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Re: New Trinidad & Tobago $ money polymer notes

Postby zoom rader » July 1st, 2021, 6:59 pm

Calculated plot to defame ah injun

This case going nowhere

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Re: New Trinidad & Tobago $ money polymer notes

Postby Rovin » July 1st, 2021, 7:11 pm

daring dragoon wrote:the pastor get plenty plenty titties and the govt want to take it.


:shock:

e went to 1 of dem guest houses orrrr ...... :lol: :lol: :lol:

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Re: New Trinidad & Tobago $ money polymer notes

Postby Rovin » July 1st, 2021, 7:13 pm

this seems like a very difficult case for either side to prove ...

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Re: New Trinidad & Tobago $ money polymer notes

Postby zoom rader » July 1st, 2021, 8:56 pm

Rovin wrote:this seems like a very difficult case for either side to prove ...
No crime was committed,

State have to prove how the money was laundered.

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Re: New Trinidad & Tobago $ money polymer notes

Postby VII » July 1st, 2021, 9:24 pm

See why you can't take some of y'all seriously, how can you all support this shyte ? He has to prove how he got that cash,the state doesn't have to prove how he didn't .

Thought you pseudo geniuses and genuine smartmen would've known that, lol .

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Re: New Trinidad & Tobago $ money polymer notes

Postby paid_influencer » July 1st, 2021, 9:53 pm

naw if he's charged for money laundering they have to prove he laundered the money.

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Re: New Trinidad & Tobago $ money polymer notes

Postby VII » July 1st, 2021, 10:49 pm

No he has to show how he got the money...it's simple..

It's not a drug, fraud, human trafficking, kidnap or bank robbery case you know..

Show how you got it or lose it and make a jail,it's simple..

And if you have gotten your money in an honest and legitimate fashion that would be very easy to do, so let his cheerful givers line up in court and explain how much they gave him over what period and where they got it too..

I suspect no one would be in court testifying on his behalf,this is every easy case for the state to win,very !

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Re: New Trinidad & Tobago $ money polymer notes

Postby pugboy » July 1st, 2021, 10:59 pm

Any untaxed organization will attract suspect money
And the most legal of them are churches
Time to start taxing them

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Re: New Trinidad & Tobago $ money polymer notes

Postby eliteauto » July 1st, 2021, 11:13 pm

The fact that he is charged with money laundering would imply that the authorities believe that the money represents proceeds of a criminal act. I hope that this wasn't part of a stash of cash stored in boxes belonging to a criminal enterprise that was given to the pastor to exchange.

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Re: New Trinidad & Tobago $ money polymer notes

Postby rollingstock » July 1st, 2021, 11:14 pm

zoom rader wrote:Calculated plot to defame ah injun

This case going nowhere


But if he was African let me guess you would have said he was a criminal ent?

Why yuh doh hush your racist Kant.

2nr does be a nicer place to visit when you on a ban.

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Re: New Trinidad & Tobago $ money polymer notes

Postby RedVEVO » July 2nd, 2021, 2:58 am

zoom rader wrote:
Rovin wrote:this seems like a very difficult case for either side to prove ...
No crime was committed,

State have to prove how the money was laundered.


It's a religious organization and Churches pay no taxes - once registered as non-profit .

The DPP/TTPS have to prove money laundering (ML).

The Pastor has no records , TTPS have the money in boxes - so it's going to be interesting how it's ML :D

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Re: New Trinidad & Tobago $ money polymer notes

Postby bluefete » July 2nd, 2021, 6:06 am

zoom rader wrote:Calculated plot to defame ah injun

This case going nowhere


Back to your normal ways I see.

This time, if they ban yuh, I go keep quiet! :mrgreen:

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