Money laundering cases at casinos in British Columbia is nothing new. There are many stories about money laundering and many money launderers have worked in the province since the early-00s. The province had been already plagued with high-profile incidents, including organized crime and now money laundering is a big thing plaguing the province.
It was discovered by former Mountie – Peter German that there was one particular scheme followed in a casino. There was irregular cash buy-ins at one particular casino in the province. It is quite evident that money laundering as well as organized crime has made a reappearance in the province again. This issue came to the forefront as one honest and justified investigator lost his job after a particular investigation case.
Presently 16 different casinos operate in the province of British Columbia. The combined revenue generated from these casinos in total is approximately C$600 million. There is clear evidence of the fact that there are many chances of money laundering in these casinos and people know what they are doing. US gamblers are now free to enjoy sports betting for the first time. Moreover, the appeal and development of Canadian casinos have kind of encouraged the money-laundering activity.
In one recent story it was revealed that an inspector who worked for British Columbia’s Gaming and Policy Enforcement was fired in an unexpected manner in the year 2014. The firing was triggered as the officer was believed to have made investigations into some irregular gambling in various casinos of Vancouver in 2009. It was from various casinos in Asia that the money was being brought. It was thought that this was criminal money from various Chinese gangs, which tried to launder their cash.
Authorities in Canada have history in suspecting Asian and Chinese gangs for money laundering. There were popular stories of a Hong Kong tycoon with close links to Canadian British Columbia casinos and the tycoon was believed to be using the province for laundering cash. There is a definite link and that leads to raising questions about Asian investors, who became involved in Canadian gaming.
B.C casinos have not only been used by foreign criminals for money-laundering. It was found that in 2008 CBC investigative journalists had been permitted to launder almost C$24,000 in an undercover operation. With this kind of investigation, it is possible to shed more light on the various issues in the province where criminal activity in the casinos is on the rise. Questions have also been raised regarding tackling the problems.
The investigation has raised many questions on the relationships between casinos and regulators. There was an awkward scenario and atmosphere in the place; where attempts were made to reach to the depths of the case and the inspector was sacked in an unceremonious manner. Various indictments and arrests were made in association with the case. But it did not change the scene that the inspector lost his job in doing his work honestly. Strong lights were shed on the corruption issue and money-laundering thing and these have been plaguing British Columbia for long.
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