A grocer accused of cashing suspicious cheques and charging illegally high rates of interest on loans was today granted bail after pleading not guilty to the charges. 

The father of two, whose identity is not to be disclosed so as not to hinder ongoing police investigations, landed himself in trouble when it transpired that he was allegedly cashing cheques for unusually large sums handed over by third parties.

Escorted to court under arrest, the man was charged with having acted in breach of money laundering regulations. He was also accused of having charged interest for loans at a rate exceeding the legal limit. 

The prosecution explained in court how the shopkeeper used to cash cheques, charging a commission, before depositing the amounts in his shop till. Since the cheques were numerous and covered large sums, the suspicion of underhand money laundering activity was justified, the court was told.

In his submissions on bail, the defence lawyer stressed that his client had fully collaborated with the police and had strong ties in Malta. Being the father of two young children and running a business located in Malta laid to rest any risk of the man absconding from the island. Moreover, the man had no overseas connections.

In view of the fact that the prosecution did not object to this request as long as the man observed the conditions imposed by the court, and upon noting that the suspect had a clean criminal record, the court granted bail.

Among the conditions, the man must pay a €2,000 deposit and bind himself to a personal guarantee of €10,000. He is to sign the bail book on a daily basis and abide by a curfew between 10.00pm and 6.00am.

A freezing order upon all assets of the accused was issued by the court with notification to the Court Registrar for immediate execution.

Senior Inspector Raymond Aquilina prosecuted. Lawyer Alessandro Lia was defence counsel.