A Chinese National visiting Grenada has found himself in trouble with the law.
Daobo Xu who was staying at a hotel in the south of the island was pulled in by the Financial Intelligence Unit (FIU) last week on charges of fraud and money laundering.
A source close to the police investigation confided to THE NEW TODAY newspaper that Xu came into Grenada with US$5000.00 in his possession.
The source who did not wish to be identified said the sole intention of the Chinese man was apparently to operate a scheme of cashing in on people’s money in the bank with the use of false credit cards.
Xu who was brought to court, unrepresented by counsel last week Thursday in front of Chief Magistrate Tamara Gill informed her that he intends to defend himself.
However, Magistrate Gill pointed out to the accused that the charges slapped on him are serious and went at lengths to inform him that the maximum penalty for money laundering is seven years while the charge of fraud carries a maximum penalty of five years.
With the help of a court interpreter and a female Chinese National who is working on the stadium project, the suspect told the Chief Magistrate that he cannot understand why he is being prosecuted.
Xu claimed that he was given the money by a friend in China for the airfare and to conduct business in Grenada.
Magistrate Gill remanded Xu to custody at the Richmond Hill Prisons, and set November 21st as the trial date for his matter.
The Chief Magistrate advised the prosecution department to provide Xu with the statements of the witnesses so that he can study them in time for the case.
Head of the Police Prosecution Department, Assistant Superintendent of Police (ASP) Godfrey Victor informed the court that Xu has already been served a Chinese version of the charges.