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    2018-04-24 13:53:19 Posted By Amir Hamzehali

    Global News’ investigation on criminal activities shows the extent and magnitude of the money laundering problem that our province and Canada is facing. The report states that the Criminal syndicates that control chemical factories in China’s booming Guangdong province are shipping narcotics, including fentanyl to Vancouver, washing the drug sales in British Columbia’s casinos and high priced real estate and transferring laundered funds back to Chinese factories to repeat this deadly trade cycle.

    This cycle of criminal activity is known as “Vancouver Model of transnational crime”. The narcotics and counterfeit goods are smuggled around the world from Guangdong province in southern China by ship or plane via criminally controlled shipping routes. The drugs and chemicals go to the West Coast drug dealing networks with connections in Vancouver and Calgary. The money from drug dealing is laundered in the casinos first, where the VIP gamblers from China are gambling. Then from the casinos, cash and cheques go to underground banks in Vancouver which send the money back to Hong Kong and Guangdong in China. Hong Kong law offices transfer the cash to offshore shell companies to Panama, Cayman Islands, or British Virgin Islands, which again, can be routed back to underground banks and law firms in Vancouver, and that laundered money is used to buy luxury real estate here.

    What is interesting about the results of this investigation is that real estate transactions in Vancouver are not directly part of the criminal money laundering process. It’s the laundered criminal money that comes back to Vancouver again to be invested in Real estate!!!

    The illegal cash money from criminal activities such as selling narcotics is practically laundered when it enters the banking or financial system. When the money is cleaned, the criminals can easily spend it on, or invest it in, essentially, whatever they want.

    Criminals choosing to invest their money in our real estate market can be detrimental. The minimum harm it could do is to cause property values in our city to go up unsustainably. It is not clear why the gangsters are willing to invest their money in our real estate market. It could be the underground banking system being active in our city, the possibility of hiding real estate ownerships through legal mechanisms such as trusts and shell companies, the lack of proper investigations for suspicious transactions, or the stability of our real estate market!

    Whatever the reasons, it is not fair to stigmatize our real estate market for being attractive to so may people including criminals. The real problem allowing this criminal activity is the lack of proper security at our borders, possibly, our immigration system that allows criminals to our country, our privacy laws that block police investigators from working with Fintrac agents for suspicious transactions at casinos, and our legal loopholes that allow our unethical professionals to help global criminals.



AMIR Hamzehali
2397 Marine Dr.
West Vancouver
BC, V7V 1K9