Sr. Roy Andrade, CEO of Cyber Boy Corp. bore a $250,000 civil mooney penalty as The Financial Crimes Enforcement Network (FinCEN) accused him of smuggling cash from England to the United States on multiple occasions.
Moreover, he was also accused of his failure to file a FinCEN Form 105 with the U.S. Customs Border Protection (CBP). Sr. Roy Andrade got arrested in England on Christmas and he was extradited to California after the US Government filed a complaint against him for 31 USC & 5316 violation.
The criminal investigation against the CBC CEO was conducted by many organization and FinCEN acted in coordination with law enforcement?s seizure of CBC and Sr. Roy Andrade?s arrest. Under Section 5316, anyone traveling on international flights from and to the US must submit FinCEN 105 form at or before the time of arrival or departure for transporting over $10,000 in US currency.
Failing to do so can lead to criminal charged against a traveler. Miami, Florida tops the list of places where cash is seized at the airport. Approximately, ?310,000.00 were seized as undeclared currency by CBP officers from Sr. Roy Andrade.
In his statement, Sr. Roy Andrade has declared the entire incident as a mere misunderstanding. According to him, he filed the required forms with CBP on his departure from Europe to California. Moreover, CBC CEO also said that all the cash he carried is legal.
Sr. Roy Andrade has said that CBD has already hired a civil asset forfeiture attorney and customs attorney to prove his innocence. He clarified that his attorneys would take evidence from surveillance video of his detention to prove wrongful seizure of his money.
?Andrade was taken into Federal custody without incident on December 25, at 2:03AM, but, bail was posted by a third party in California. However, the court has imposed conditions. One being, Andrade, be required to wear a SCRAM or Secure Continuous Remote Alcohol Monitor. Our investigation is ongoing and includes potential Bank Secrecy Act violations,? stated a CBP spokesperson.
?A reception window is at the magistrate?s office and available holiday hours so they processed the bail with conditions. It?s written in the Eighth Amendment to the United States Constitution that excessive bail is not required, not even excessive fines can be imposed, not even cruel and unusual punishment can be inflicted. So, here I am! Thank God, I?m standing here.?Said Sr. Roy Andrade to our newscast.