The US District Court for the Northern Mariana Islands issued a forfeiture warrant for the $2.5 million already turned over to the federal government by the Hong Kong Entertainment (Overseas) Investments Ltd., which is doing business as Tinian Dynasty Hotel and Casino, Marianas Variety newspaper reported.
According to the federal government, the $2.5 million “is derived from proceeds traceable to violations of Title 31, United States Code, Sections 5313(a) and 5322(b)” or failure to accurately prepare and file currency transaction reports and failure to accurately prepare and file suspicious activity reports.
Between September 2009 and continuing up to April 25, 2013, the federal government said Tinian Dynasty was not in compliance with the regulations because it failed to file Bank Secrecy Act, or BSA, reports with the U.S. Department of Treasury.
Between Sept. 2009 and continuing up to April 25, 2013, the federal government said, Tinian Dynasty also failed to develop, implement and maintain a system of internal controls reasonably designed to ensure compliance with BSA requirements for filing currency transaction report or suspicious activity report forms as required by law.
The $2.5 million was handed to the federal government in the form of a certified check on June 23, 2015, pursuant to the first amended non-prosecution agreement between the U.S. Attorney’s Office for the Districts of Guam and the CNMI, and Hong Kong Entertainment (Overseas) Investments Ltd.
On June 25, 2015, Tinian Dynasty entered into a non-prosecution agreement with the U.S. Pursuant to that agreement, Tinian Dynasty agreed to forfeit to the United States the $2.5 million located in the CNMI.
Such funds were involved in the offenses being pursued by the federal government, according to the complaint.
The U.S. is asking the federal court to enter judgment in its favor to enforce the forfeiture of $2.5 million against the defendant.
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