He wanted to buy an 18,000€ watch in Monaco in cash: a wealthy Russian businessman sentenced
Nobody is supposed to ignore the law ! Yet it is the line of defense of a wealthy Russian national who came to the Principality with more than 18,000 euros in cash in his pocket to buy a collector’s watch. See, if the opportunity arises, some other rare coins of great value. A funny way all the same to invest your money without leaving a trace…
Or, you must declare the sum to the supervisory authority as soon as you transport more than 10,000 euros in cash on Monegasque territory. But this 50-year-old was unaware of these local regulations, as he claimed during his police custody, after being checked on October 27 in a vehicle parked in Monte-Carlo.
“It’s not about dirty money”
Financial ignorance recalled by President Jérôme Fougeras Lavergnolle during the investigation of the case. “In good faith, he told the inspectors that he had made five cash withdrawals in Le Cannet, in the region where he lives when he is in France. The other part had been taken from his account in Moscow. His criminal records are clean.”
But for the prosecution the offense is characterized. “This character justifies annual income of 120,000 euros, recalled replacement Emmanuelle Carniello. Therefore, I find it hard to believe that he had kept this money since the beginning of the year to come and spend it in the Principality at the end of October. You can only condemn him to the confiscation of a sum, the amount of which takes into account everything that exceeds the authorized 10,000 euros!
The defendant, absent at the hearing, was represented by his counsel, Me Mohamed Maktouf, of the Nice Bar. “My client, retained for professional reasons in Russia, attested the lawyer, was unable to travel to Monaco to attend this hearing. So, let me plead misunderstanding. The requisitions are extremely severe. I have supporting documents that this rich man works. If we have not found the origin of his company, I can inform you about the date of its creation in July 2016. He has a valid resident card to stay in Cannes until 2028. He is not no question of selling money. You should know that this Muscovite is a tax resident in his country and that he has made a career in banking.
And to restart immediately: “We understand that he prefers cash. Especially that in Russia it means that we have a lot of them. Don’t confiscate 8,000 euros for nothing, because his ignorance has nothing to do with an offence.”
The court did not doubt the defendant’s good faith despite his absence. He limited the financial drain to a fine of 1,000 euros.