, 16 tweets, 5 min read Read on Twitter
Exclusive: Liberal MP involved in second bare trust deal with client named in ‘transnational money laundering’ probe globalnews.ca/news/5383423/l… #cndpoli #vancouvermodel #vip #vanre #bcpoli
2 The industrialist from China, who we have not been able to reach, is one of about 40 'whale' VIP gamblers that were identified by BCLC investigators (using surveillance) as taking suspected drug cash loans from a Mainland China based fentanyl trafficking cartel in Vancouver BC.
3 RCMP identified these VIPs as Macau style whales, that were recruited in China to gamble at 100k per hand baccarat, mostly at the BCLC's Richmond casino. I will get to the importance of Richmond lawyers a little further down in the thread. How it works is this.
4. Global fentanyl cartel ships the drug into Vancouver along with heroin, sells it across Canada, collects the drug cash in cities across Canada, and has warehouses of cash it can't do anything with. How does it launder the cash and get it back to China to buy more drugs?
5. One of the key ways is using wealthy Chinese VIP gamblers. To avoid China's capital export controls, they travel to foreign gambling meccas, like Vancouver or Macau. There they meet gangsters and take out 'loans' consisting of hockey bags filled with drug cash.
6 With these hay bails of cash, they walk into casinos that have poor anti money laundering controls, and they buy chips to play baccarat at 100k per bet. Sometimes in Richmond they were bringing in over 500k of cash per 'buy in' -- astonishing amounts of suspected drug cash.
7. Some of these VIPs are the bosses of the crime cartel, according to police intel and my document sources. Some are corrupt officials. Some maybe mine or factory owners who somehow obtained these assets in a Communist country.
8. Regardless, whether they win or lose, they need to pay back the crime cartel that provided the gambling bridge financing loan, in China usually, where the VIPs live and bank, and the bosses of the crime cartel live and bank.
9. So through various methods, sometimes simple sometimes complex, the VIP takes out the loan obligation in Vancouver, often a promissory note is involved, and pays back the debt in China. In this way the VIP gambles and possibly launders money in BC, the cartel launders the $
10. drug cash through the hands of the VIP and the casino, and the money is moved and laundered back in China, through the repayment from an apparently legit VIP bank account, to a cartel bank account. The $ buys fentanyl that comes back to Vancouver, and cycle repeats.
11. As the BCLC investigators explained the transactions linked to this network of VIPs and targets of 'E-Pirate' cash loans are paid back offshore,“in suspicious circumstances using suspicious methods with little or no interest … (that) indicate transnational money laundering.”
so that is the underground 'Vancouver Model' that is really the Canadian version of Macau-Hong Kong casino money laundering. Where do Canadian lawyers, bankers, realtors come in? What we have uncovered is that in some cases alleged loan sharks + launderers use 'bare trust'
We only know of the Kwok Chung Tam bare trust run through the MP's former law firm, because @brianhillGlobal and I identified a phenomenal cache of Gov't Canada records, in Tam's well-funded battle to avoid deportation. Bare trusts are kept in 'black box' legal accounts normally
Even the gov't and police have no idea how many of these bare trust real estate development deals are out there. But through reports and indications from BC's gov't and various lawyers speaking generally, we can estimate a lot of bare trust activity, and the few concrete cases,
legal filings point to 1. allegations of casino suspicious transactions 2. loan sharking 3. allegations of tax evasion 4. anonymous, speculative investment and flipping of development land 5. shell co's involved in immigration/investment fraud 6. alleged money laundering.
Here is a summary of RCMP investigation into this VIP and org crime cash lending network related to the BCLC investigation info in story, per BC Civil Forfeiture filings.
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