to pay off a $6,700 fine.

Steven Wilfred Pitt, 39, admitted the offences in Supreme Court but claimed he had no idea he was breaking the law.

Between September and November, 1991, Pitt made 14 claims for tax exemption when buying foreign currency, Crown Counsel Ms Sharon Kenny said.

On several occasions he claimed he was going on a trip to the US while at other times he said he was sending monetary gifts overseas.

Ms Kenny said Pitt converted Bermudian currency into US$41,958.28, of which only $3,100 was lawful.

She noted each resident is only allowed to send monetary gifts valued up to $3,000 overseas without being taxed.

Pitt, who was unrepresented, said he was doing a friend a favour by converting the money.

But Puisne Judge the Hon Mr. Justice Ward said: "You were changing this money for someone on the block.'' Mr. Ward fined him $3,900 for the amount owed in taxes, plus $200 for each of the 14 charges. If Pitt does not pay the fines by October, he will be sent to prison for six months.