Darren Gouder, 34 of Valletta, has been accused in court of carrying more than half a million euro in banknotes on a boat which left Malta on June 27, 2013.
The Sea Storm, was intercepted and searched some eight miles off Malta.
Mr Gouder was accused of failing to declare that he was carrying €530,000 in cash.
The court was requested to, on conviction, fine Mr Gouder 25% of the sum over €10,000, in terms of the law, confiscate the cash which exceeded €10,000 and confiscate the boat.