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Explain your wealth legislation” is coming soon

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Duane 3NE 2NR
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Explain your wealth legislation” is coming soon

Postby Duane 3NE 2NR » July 5th, 2016, 2:33 pm

http://www.trinidadexpress.com/20160704 ... tch-mr-big

Explain your wealth legislation” is coming soon and if someone cannot explain how they got their millions, they will lose them, says Attorney General Faris Al-Rawi.
Al-Rawi was speaking yesterday during the debate of the Finance (No.2) Bill, 2016 at the Parliament sitting at Tower D, International Waterfront Centre, Port of Spain.
He said Government is making amendments to the Companies Act, the Financial Intelligence Act and Civil Asset Forfeiture legislation to ensure that people are accountable for their wealth.
He said Government will be cleaning up the Companies Registry to “unmask” beneficial owners so a person can no longer sequester assets using a legal nominee to hide a beneficial ownership.
“We are now going to say if you can’t explain your wealth, you will lose your wealth. Every drug man who owns a massive mansion, every person who is engaged in corruption who on paper is earning $5 a month, $2,000 a month and have assets coming through their nose that they can’t explain how they acquired, all of those people now, unmasking the beneficial ownership, are going to be called upon under the Civil Asset forfeiture regime...you are going to be at risk of losing your wealth,” said Al-Rawi.
The AG also disclosed that the multi-million-dollar juice can drug bust was fuelled from the use of a defunct company under the Companies Registry.
“The drugs in the juice cans, those transactions that allowed the shipment of the juice cans to the United States of America happened via a defunct company on the register. The company had stopped filing returns...whoever perpetrated the crime noticed that the company was defunct, picked up the documentation for the company and simply shipped it under that end. That’s the danger of not cleaning your Companies Registry and that’s why we have taken this opportunity, not only from a revenue perspective but importantly from a crime-fighting perspective,” said Al-Rawi.
This country, he said, is wrestling with criminality and the Proceeds of Crime Act is not yielding the fruit it should and assets are not being forfeited because the act is pegged to a conviction.
Al-Rawi disclosed that there are close to 60,000 companies, of approximately 72,000 listed under the Companies Registry, that have not filed their annual returns and after the amnesty expires in September this year, Government will be going after those persons.
He said some 28,077 have not filed all of their annual returns, while some 29,912 have filed no annual returns at all.
Al-Rawi noted the importance of cleaning the Companies Registry as he made reference to last Saturday’s $39 million cocaine bust off Trinidad’s north coast.
“Some people made the observation, well, it’s small fries you ketch, the fellas who driving the boat, where was it going? Who sent it? Who gets the profits of crime? Very good concerns. The proverbial Mr Big, big fish, middle fish, small fish, people want to know where they are, this Government has committed, Madame Speaker, to taking the profit out of crime...”

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Re: Explain your wealth legislation” is coming soon

Postby wagonrunner » July 5th, 2016, 2:39 pm

a step in the right direction.

Al Capone was never charged for violent crime, but was jailed for tax evasion.

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Re: Explain your wealth legislation” is coming soon

Postby Dizzy28 » July 5th, 2016, 2:59 pm

wagonrunner wrote:a step in the right direction.

Al Capone was never charged for violent crime, but was jailed for tax evasion.


Will they go after the corrupt Accounting profession in this country that aids and abets the wealth hiding??

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Re: Explain your wealth legislation” is coming soon

Postby SMc » July 5th, 2016, 3:08 pm

Simple...Duane is my Sugardaddy


on a serious note, good initiative but I hope it doesn't lead to more peoples pockets being fattened as they accept the bribes that are likely to come along to hide peoples wealth.

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Re: Explain your wealth legislation” is coming soon

Postby pugboy » July 5th, 2016, 3:25 pm

Let them start with the most notorious imam in the history of the country.

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Explain your wealth legislation” is coming soon

Postby K74T » July 5th, 2016, 3:35 pm

Good move

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Re: Explain your wealth legislation” is coming soon

Postby sMASH » July 5th, 2016, 3:38 pm

start with politicians first. when that done, then work ur way down the economic ladder.

i see the term 'civil forfeiture'. in america, that is used by police to take money and other valuables from random people with no real reason given.

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Re: Explain your wealth legislation” is coming soon

Postby Redman » July 5th, 2016, 3:38 pm

Some how I feel the next election campaign will be a doozy.

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Re: Explain your wealth legislation” is coming soon

Postby pete » July 5th, 2016, 3:40 pm

What they gonna do with the lambos when they get seized?

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Re: Explain your wealth legislation” is coming soon

Postby Kalisnakov » July 5th, 2016, 3:44 pm

Hope alwari n d short man will do d same,how they achieve theirs......
Trinidad.....soon to be the second North Korea
Last edited by Kalisnakov on July 5th, 2016, 3:44 pm, edited 1 time in total.

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Re: RE: Re: Explain your wealth legislation” is coming soon

Postby baigan » July 5th, 2016, 3:44 pm

pete wrote:What they gonna do with the lambos when they get seized?

Lol If they auctioning i want one

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Re: Explain your wealth legislation” is coming soon

Postby sMASH » July 5th, 2016, 3:48 pm









all this talk about big men, no substance. the small man is who would have to be on the defense right through. struggle for what u want, then fight to keep it... against bandit, and bandit with badge.

america's second amendment was put in place to keep power WITH the people, not against the criminal person, but the criminal government.

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Re: Explain your wealth legislation” is coming soon

Postby Miktay » July 5th, 2016, 3:48 pm

so...our honorable attorney general gwan challenge the Mr. Bigs of the illegal drug cartel?

hahahahahahahahahahahahahahahahahhahaha.................

good wun Al Rawi...

oi mih belly...

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Re: RE: Re: Explain your wealth legislation” is coming soon

Postby baigan » July 5th, 2016, 4:08 pm

Miktay wrote:so...our honorable attorney general gwan challenge the Mr. Bigs of the illegal drug cartel?

hahahahahahahahahahahahahahahahahhahaha.................

good wun Al Rawi...

oi mih belly...

Lmaoo

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Re: Explain your wealth legislation” is coming soon

Postby Redman » July 5th, 2016, 4:16 pm

nah this aint about drugs money....the banks dont have to explain nuttin.

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Re: RE: Re: Explain your wealth legislation” is coming soon

Postby Morpheus » July 5th, 2016, 4:37 pm

pete wrote:What they gonna do with the lambos when they get seized?

LoL. Aye!

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Re: Explain your wealth legislation” is coming soon

Postby MaxPower » July 5th, 2016, 4:47 pm

The rich and powerful will remain rich and powerful...they are already a step ahead..

But for the Bamboo racket rats...they were born dirt poor and became rich over night but their brain remain the same dotish way...its dem so have to start worrying...

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Re: Explain your wealth legislation” is coming soon

Postby viedcht » July 5th, 2016, 5:31 pm

It sounding good. I just hope they really pull up on the ill-gained wealth and tax-evading clowns... this country have a few good ones

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Re: Explain your wealth legislation” is coming soon

Postby roadhog » July 5th, 2016, 5:57 pm

I got meh money from
A Nigerian prince who email me .

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SR
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Re: Explain your wealth legislation” is coming soon

Postby SR » July 5th, 2016, 6:11 pm

Hope its applied to both political parties as well......

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Re: Explain your wealth legislation” is coming soon

Postby Team Loco » July 5th, 2016, 6:25 pm

Alot of dreamy ideas from this gov.

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Re: Explain your wealth legislation” is coming soon

Postby nismoid » July 5th, 2016, 6:45 pm

Hahaha allyuh really feel UNC gonna support that??? all dem injun drivin Range Rovers and Bentleys and GTR's and ting? while working for $6,000 a month? hahahaha

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Re: RE: Re: Explain your wealth legislation” is coming soon

Postby Curtms » July 5th, 2016, 7:23 pm

nismoid wrote:Hahaha allyuh really feel UNC gonna support that??? all dem injun drivin Range Rovers and Bentleys and GTR's and ting? while working for $6,000 a month? hahahaha

Call name !!! Doh fraid !!!

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Re: Explain your wealth legislation” is coming soon

Postby shake d livin wake d dead » July 5th, 2016, 7:42 pm

very good initiative..

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Re: Explain your wealth legislation” is coming soon

Postby streetbeastINC. » July 6th, 2016, 4:18 am

Seems communist to me,,,, doubles man show me receipts,

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Re: Explain your wealth legislation” is coming soon

Postby zoom rader » July 6th, 2016, 5:54 am

I sold cloth and ended up owning Trinidad and the present Government

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Re: Explain your wealth legislation” is coming soon

Postby mark2.0 » July 6th, 2016, 6:35 am

I sold Pumpkins...

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Re: Explain your wealth legislation” is coming soon

Postby fouljuice » July 6th, 2016, 6:44 am

They should bring a legislation called "explain your lack of wealth" for some of ollour who working for big big money, yet every time is your turn to call a rounds, is all kinda "waye boi doggy, paper rel low" or "gimme a twents fuh ah lil gas nah?"

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Re: Explain your wealth legislation” is coming soon

Postby De Dragon » July 6th, 2016, 10:05 am

streetbeastINC. wrote:Seems communist to me,,,, doubles man show me receipts,

In B4 eliteauto...........
Trying to look tough on corruption requires Lie-Wari to puff up and appear threatening now and then. What will ultimately come of this is nothing, just like politicos, chairmen, board members who have not declared their assets for years without any sanction whatsoever under the Integrity in Public Life Act. This will be fiercely resisted by the Opposition, as the PNM will want their people in charge of deciding who gets audited, just like the SSA Act.
There will of course be some token seizures of regular folks' assets just to show that it is "working" but like drugs, small fry will be the sacrificial lamb for the Mr. Bigs, which ironically a past PM claimed to know the identity of.

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Re: Explain your wealth legislation” is coming soon

Postby SR » July 6th, 2016, 10:10 am

What exactly does imbert do for a living........

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