BC Provincial Minister of Justice and Attorney General David Eby reacts to a briefing on bad money sloshing around in BC. An independent review of casino money-laundering may result in changes to BC Lottery Corp’s agreements with casinos, allowing quicker, tougher penalties. Look for more info on Tuesday Dec 5.
But there may be more than just casinos attracting attention here.
With thanks to Sam Cooper in PostMedia outlet the Vancouver Sun.
In his speech, Eby said he will never forget the first briefing he received from members of B.C.’s gaming enforcement branch when he became attorney general last summer.
“One of the members of the public service said, ‘Get ready. I think we are going to blow your mind.’ While I cannot share all of the details, I can advise you that the briefing outlined for me allegations of serious, large-scale, transnational laundering of the proceeds of crime in British Columbia casinos,” Eby said. “And I was advised that the particular style of money laundering in B.C. related to B.C. casinos is being called, quote, ‘the Vancouver model’ in at least one international intelligence community.”
. . . Eby added that allegations of transnational money laundering linked to casinos go deeper than that: “I have reason to believe that these matters might be linked to other areas of B.C.’s economy.”
Eby also said that he believes B.C.’s property ownership system — in which true owners of property can hide behind opaque legal mechanisms — could be attracting foreign criminals and corrupt officials seeking to hide wealth in the province. Eby said Finance Minister Carole James is working on reforms to pull back legal veils that cover true ownership of property and corporations.
Money-laundering tutorial HERE.