Money Laundering
 

BC has a inquiry into money laundering, primarily during the years of the BC Liberal reign.

The more that comes out, the more it seems BC Liberal ministers, and even RCMP were either involved or knew about it but looked the other way.


https://globalnews.ca/news/7444953/r...en-commission/

Re: Money Laundering
 

Criminals laundering money in casinos? Who's going to believe that? :rolleyes:

Re: Money Laundering
 

Real Estate too. Vancouver real estate has been known to be used to launder money through.

Re: Money Laundering
 

:ohmy:

Re: Money Laundering
 

Compared to the US, Canada has pretty weak money laundering laws and even the laws that exist tend not to be enforced, but now its turning out that its very possible the BC Liberal Gov't (not really liberal) and RCMP and others may have been looking the other direction while all this was happening aware of it.

Re: Money Laundering
 

I hope this inquiry digs up sufficient evidence that at least some in the corrupt BC Liberals Gov't face some level of charges for their role.

"An investigator with B.C.’s gaming regulator has testified that when he approached and questioned a senior B.C. government official about massive suspected drug-money laundering in the province’s casinos, the official walked away without saying a word."

https://globalnews.ca/news/7438961/s...ey-laundering/

Re: Money Laundering
 

I used to have a company that had a bank account in Cyprus. One day I was doing some online banking and there was an error - my login took me to an account that was not mine. It was a Russian account which was receiving $150,000 every day, and paying out $50,000 every day. I was pretty shocked, and feared that I had inadvertently come across a Russian mafia account. To my eternal regret, I logged out pretty quickly without taking a screenshot or a print. I contacted the bank who were extremely concerned about how this had happened and "had I taken any prints or screenshots or downloaded any data?" I certainly didn't fancy Putin's heavies turning up on my doorstep so I confirmed I hadn't.

The bank in Cyprus has since been shut down by the FBI for massive money-laundering. I still had about $3,000 in there, and I don't think I'll attract any attention to myself by asking for it back. :rofl:

Re: Money Laundering
 

Well that's certainly kind of concerning, guess the bank was up to some shady things.

Casinos seem pretty easy places to launder money, even just using slot machines, dirty money into slot, play a couple games to make it look legit, cash out, get clean money from the casino, small amount lost playing slots cost of doing business.

I wonder if any of these former BC Liberal politicians are getting nervous, I don't think they really ever expected the NDP to actually investigate and do inquiries into this.

Re: Money Laundering
 

I believe that I observed this practice first-hand just recently. I was sitting at a slot machine next - well, adjacent, since every other machine is shut down due to the distancing requirement - to a lady who played for 5 minutes, cashed out, disappeared, and then returned two minutes later to play the same machine. Five minutes later she cashed out, disappeared for a couple of minutes, and then returned to play the same machine. She repeated this pattern for around an hour, and I came to the conclusion that I was witnessing money laundering. Considering everything in the casino is captured on camera, quite audacious really.

Re: Money Laundering
 

What you're supposed to do is say that you have taken screenshots and downloaded something onto a thumbdrive and that if anything happens to you your lawyer has been instructed to release the details to your contacts in the media and that you'd keep schtum for a mere $50k a day.

Re: Money Laundering
 

Even if she was playing $100/play slots that wasn't even a drop in the ocean. She wouldn't be laundering cash fast enough to even keep up with Walter White alone. :lol:

Re: Money Laundering
 

One part of the laundering is casinos return the "winnings" in the form of a cheque, provided its not small, now casinos in theory should only issue a cheque if the winnings are verified legitimate winnings in casino, however this is where casinos have been lax as well as enforcement.

CBC back in 2008 did an undercover story on it, (obviously they were using legitimate clean money but pretending) they took 30,000 and fed it into slots, they were able to get 80% of that back in form of a casino cheque. One cashier refused to issue a cheque. They even won a small amount, so CBC got back $30,100. A slight profit. :lol:

The cheque plays a vital role.

https://www.cbc.ca/news/canada/briti...ring-1.4729400

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Re: Money Laundering
 

When we lived in Dubai my wife knew someone who worked in sales for a property developer. She said that it was commonplace for Russians and Arabs to turn up at the launch events and buy multiple apartments and pay in cash... literally suitcases full of cash, no questions asked. That was 20 years ago, things are a bit tighter now, even there.

Re: Money Laundering
 

I wouldn't be surprised if something similiar was occuring in BC condo sales, just maybe not the suitcases full of cash physically in BC though, but some developers opened pre-sales offices overseas and well I wouldn't be too surprised if they might have accepted cash in their overseas offices......who knows what was happening in those sales offices.