A few weeks ago, owner of FULTEC and OMNI Networks Dean Fuller was taken before
the court on a money laundering charge relating to the Coye/Moneygram investigation.
Tonight, the news is that the Financial Intelligence Unit has gone one major
step further and probably crippled Fuller’s businesses by freezing all
bank accounts owned and operated by FULTEC and OMNI.
The notice was sent to all commercial banks yesterday and today a source close
to the investigation told us the freeze covers, “millions of dollars”
held in a number of accounts at various banks. The order comes as part of the
FIU’s continuing investigation into Fuller’s business operations
at OMNI Networks which was the master agent for Moneygram in Belize.
The FIU believes that as master agent Fuller shared in a percentage of the
tens of millions of dollars in allegedly fraudulent transactions conducted by
the Moneygram sub-agency operated by the Coye’s. Insiders say the total
commissions were in the range of seven million dollars. Well, our sources say
the FIU believes that Fuller’s companies’ accounts show suspicious
transactions and so they have ordered a freeze. Accounts related to the Coye
family were similarly frozen when the money laundering charges were brought
against them.
In the first case, the freeze stands for 7 days, until a court order is issued
which could extend what would then be called a restrainer on the accounts up
to when the case is concluded before the courts.
Fuller told us today that stressed that contrary to the FIU’s belief,
he does not own FULTEC and has nothing to do with that company which is run
by his wife. He stressed also that while OMNI was the master agent, no receipts
or proceeds from that company were put into FULTEC and characterized the freeze
on that company’s accounts as unfair victimization.
And while he told us he could not speak for FULTEC he confirmed that the freeze
will cripple FULTEC which will now find it very difficult to meet the payroll
commitments for its twenty employees as well as operational expenditures. The
money laundering case goes back goes to court in late September.
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