The Cullen Commission’s investigation into money laundering on the territory of British Columbia casinos has created the latest shocking information. According to the investigation, Vancouver real estate lawyers allegedly participated in criminal activities by assisting high-rolling casino gamblers in purchasing properties in the city.
Brad Rudnicki, a BCLC anti-money laundering intelligence specialist, testified Tuesday’s inquiry. According to him, high-rolling gamblers were purchasing real estate in the area using the same illegal model of buying casino chips.
Investigators were probing real estate lawyers who were connected to private mortgages, organized crime, and even international money-laundering schemes.
According to previous interrogations and testimonies in the Cullen Commission’s money laundering inquiry, high-profile Chinese players were funded by organized crime groups and loan sharks. The aim of the undertaking was to wash dirty money by purchasing chips in British Columbia casinos and come out with clean cash from the gambling property. The Vancouver Model was later given to this scheme by the investigator.
In 2015, Mr. Rudnicki and his team began investigating real estate property ownership connected to suspected crime lords and loan sharks Kwok Chung Tam and Paul King Jin, according to Mr. Rudnicki. For numerous reasons, both individuals were prevented from playing in B.C. casinos for a period of five years. Then, the investigation showed that high rollers started to take private mortgage loans from the two suspects.
Mr. Rudnicki and his team noticed that the suspicious gamblers frequently listed “student” or “housewife”, according to the investigations. Those same gamblers, however, were in possession of huge cash sums and a hidden source of income. He also mentioned that the same individuals were frequently linked to multi-million-dollar houses and foreign companies. It was believed that they were relatives of the high-rolling casino players.
According to the anti-money laundering expert, there is still no solid proof of the suspected illegal activities. However, there was enough evidence to suggest further examinations and investigations. The investigation will proceed to determine whether the allegations of money laundering in B.C. gambling properties and real estate schemes actually took place.
The inquiry finally learned more from the police department’s previous investigations of the issue. In a previous investigation, RCMP Cpl. Melvin Chizawsky gave his testimony. Silver International company, he claims, was involved in money laundering activities with the help of organized crime groups. Paul King Jin and the beforementioned institution are thought to have helped Chinese nationals by lending them money to bet in the province’s, as long as they deposit a sum in a Chinese bank.
According to the investigation, former BCLC President Michael Graydon was accused of failing to follow anti-money laundering directives issued by the gambling authorities. A series of email exchanges between the former president and the corporation’s staff were read by Commission lawyer Patrick McGowan. Mr. Graydon did not comply with the proposed measures, according to the emails, and even went to great lengths to encourage his colleagues to fulfill the budget expectations.
