Two Chinese nationals were yesterday fined after they were accused of buying US currency without a dealer’s licence.
O S Qingtai Lin and Jie Xiang Zhu pleaded guilty to the charge of buying US $50 on March 28, at Georgetown, without being the holder of a dealer’s licence.
According to facts presented by the prosecution, on the day in question the police received information that there was a business store on Regent Street that was buying and selling foreign currency without a dealer’s licence.
A sting operation was later set up using US$50.The defendants bought the currency and were subsequently arrested.
The prosecution noted that a search was later conducted on the compound, which led to the discovery of US$1,030.
Magistrate Fabayo Azore who heard the matter, fined the duo $30,000 with the alternative of three months in jail.
