Chaudhry pays $2 million fine
June 30, 2014 2:14 am
Fiji Labour Party Leader Mahendra Chaudhry, who was convicted of three counts of breaching the Exchange Control Act, has paid the two million dollar fine.
Chaudhry’s lawyer Anand Singh says the fine was paid last Friday.
Chaudhry was ordered to pay a fine of $2m and bring all his money from Australia and offer it to an authorized dealer in Fiji.
He was found guilty of failing to surrender foreign currency of about AUD$1.5 million and two other charges.
His second conviction was in relation to dealing in foreign currency without permission, and the third, to investing AUD$1.5 million in Australia and New Zealand without permission from the Reserve Bank of Fiji.
Chaudhry had until today to pay the fine or face 15-months imprisonment.
Meanwhile Chaudhry’s interim Stay application matter will be called in the Suva High Court next Monday.