**LARNACA, CYPRUS** – A 32-year-old Ukrainian national has been exonerated of all charges pertaining to money laundering by the Larnaca Criminal Court. While the court found insufficient evidence to prove the illicit origins of the substantial sums she transported into Cyprus, it did establish a prima facie case against her concerning discrepancies in her declarations to customs authorities regarding the purpose of these funds. A 43-year-old Ukrainian man, who was implicated as a recipient of a package from the woman, was similarly cleared of money laundering allegations.
The case originated from a report filed by the woman on March 1st, 2024, alleging she had been the victim of a robbery in Limassol, with an estimated €420,000 missing. This report, however, inadvertently triggered a broader investigation into her financial activities, revealing a pattern of frequent and substantial cash movements into Cyprus. Between August 2023 and March of this year, the woman undertook no fewer than twenty journeys to the island, bringing with her a cumulative total of €7,769,300.
During each of these importations, she officially declared the purported sources of these funds to customs officials. The prosecution’s central contention was that these sums were derived from criminal activity and that the woman was deliberately attempting to launder them. However, the court’s interim decision highlighted a critical failing on the part of the prosecuting authority. It stated, "The Prosecuting Authority failed to prove a prima facie case against the defendants on all money laundering charges, whilst on the other hand, managed to prove a prima facie case against the defendant on all false declaration charges, but only regarding the purpose for which money was brought into Cyprus and not their origin."
This ruling signifies that the prosecution was unable to present compelling evidence that cast doubt on the declared origins of the money, nor could they link the funds to any identifiable illicit activities or other individuals involved in their acquisition. The court acknowledged the woman's declarations regarding the genesis of the funds, but crucially, it found that she had misrepresented the intended use of the money upon its arrival in Cyprus. This distinction between the origin of the funds and their declared purpose proved pivotal in the judicial proceedings.
The acquittal on the twenty money laundering charges represents a significant reprieve for the accused, who had faced a potential maximum sentence of fourteen years imprisonment. The charges of making false customs declarations, however, remain a serious concern. For each of the twenty instances where the court found a prima facie case of misrepresentation regarding the purpose of the funds, the woman could face a custodial sentence of up to five years. Proceedings on these specific charges are slated to resume on February 4th.
The outcome of this trial underscores the intricate legal challenges in prosecuting money laundering cases, particularly when the origin of the funds, though potentially suspect, cannot be definitively proven to be criminal. While the woman has successfully evaded conviction for laundering, the ongoing proceedings on the declaration charges indicate that accountability for misleading authorities remains firmly on the judicial agenda. The court's emphasis on the discrepancy between declared purpose and actual use highlights a key avenue for future investigations and prosecutions in cases involving the cross-border movement of significant financial assets.