April 19, 2019. Global News. By Simon Little:
https://globalnews.ca/news/4155822/vancouver-model-david-eby-money-laundering/
As quoted in the article: B.C.’s attorney general is clear-eyed about the magnitude of the money laundering problem the province and Canada are facing.
David Eby said as much on CKNW’s The Jon McComb Show Thursday morning, in response to a Global News investigation that detailed shocking links between Chinese gangs, street drugs like fentanyl, B.C. casinos and the province’s high-priced real estate market.
READ MORE: How Chinese gangs are laundering drug money through Vancouver real estate
The scheme has come to be known internationally as the “Vancouver model” of money laundering.
“Now, thanks to the work of Sam Cooper, Kathy Tomlinson and others, now the public understands some of what I [learned upon becoming minister],” he said.
“[They] will surely know that it couldn’t possibly be restricted to casinos, and will also surely know that the money came from somewhere. That there was some sort of tax evasion or criminal activity.”
READ MORE: Report linking drug money and B.C. real estate ‘deeply troubling’: David Eby
Drawing on a report produced by Australian security and crime expert John Langdale from Macquarie University, the Global News investigation revealed how Chinese gangs known as Triads produce drugs and counterfeit goods, which are shipped to Western Canada.
The money from drug dealers is laundered in B.C. casinos, then sent to China through underground banks in Vancouver. The cash is then moved through shell companies back in to luxury Vancouver real estate.