The official inquiry looking into instances of money laundering at casinos in the western Canadian province of British Columbia has reportedly criticized the government for not doing enough to help stop the illicit activity.
According to a Wednesday report from the CTV Television Network, the Commission of Inquiry into Money Laundering in British Columbia heard testimony from 199 witnesses over 133 days and has now produced an 1,800-page document laying out its findings. This body was purportedly charged with looking into suspected instances of money laundering at casinos in the province during the decade to 2018 and detailed that several local ministers had not done enough to stop this illegal activity even though it was often happening in plain sight.
Hard-working head:
Former British Columbia Supreme Court Justice Austin Cullen (pictured) led the official probe and reportedly determined that billions of dollars in cash had been laundered through British Columbia casinos during the decade examined. The official also purportedly noted that the pervasive nature of this issue had not been helped by the seemingly apathetic approach of those in leadership roles.
Reportedly read a statement from Cullen…
The report from the Commission of Inquiry into Money Laundering in British Columbia moreover purportedly criticized former gaming ministers Shirley Bond and Mike De Jong despite determining that there had been no evidence the pair had ‘knowingly encouraged, facilitated or permitted money laundering to occur in order to obtain personal benefit or advantage, be it financial, political or otherwise.’
Supplementary scrutiny:
Finally, the examination by the Commission of Inquiry into Money Laundering in British Columbia reportedly highlighted its belief that criminals had additionally laundered money through the province’s luxury goods market. The body purportedly described such products, which included real estate, as ‘inherently vulnerable’ to such illicit activities because they are able to ‘be moved more easily and less suspiciously than bulk cash.’
Reportedly read the statement from Cullen…
“Many of the goods targeted by criminals retain or increase in value over time and they can ultimately be sold. There are strong reasons to think that fundamental factors such as supply and demand, population increase and interest rates are far more important drivers of price but money laundering should be addressed.”