▪Multi-Year Billion Dollar Canadian Money Laundering Investigation Ends After Prosecutors Reveal Undercover Informant's Identity▪
An enormous investigation by the Royal Canadian Mounted Police and Canadian prosecutors into underground bankers that were estimated to be laundering over $1 billion a year ended quickly in November 2018, when federal prosecutors mistakenly blew the cover of a police informant, putting their life at risk, according to Global News.
The investigation started in 2015 and targeted a British Columbia-based company called Silver International. The company allegedly was an illegal money services business. Back in October 2015, the RCMP said that they had seized millions of dollars of cash and casino chips along with cell phones and tons of digital evidence from the company’s office.
After bringing the company up on charges in September 2017, the case was scheduled to go to trial in January 2019. But federal persecutors and the RCMP wound up staying the charges against Silver International, as well as Caixuan Qin and Jian Jun Zhu, the Vancouver couple that allegedly ran the operation.
Silver International is alleged to have taken in about $1.5 million in criminal cash deposits per day. It distributed these funds to roughly 600 bank accounts in China, as well as helping fund Chinese high rollers at British Columbia casinos.
According to an initial investigation, Silver International was alleged to have laundered about $500 million over the course of two years. But upon further investigation, it’s now estimated that the laundering network washed over $1 billion per year. One of the methods of laundering was to help gamblers from China move money to and from Canada using casinos, so the funds could eventually be deposited into Canadian banks and used to buy Vancouver real estate, according to the country's Financial Action Task Force.
The FATF also alleged that Silver International used British Columbia as a hub to perform drug trafficking and (((global money transfer services for Chinese Triads, Mexican cartels and organized crime groups out of the Middle East…)))cont
https://www.zerohedge.com/news/2019-01-12/multi-year-billion-dollar-canadian-money-laundering-investigation-ends-abruptly