BC Lottery Corp. CEO ignored federal anti-money laundering direction on bags of cash: inquiry | Globalnews.ca globalnews.ca/news/7635314/b… @FINTRAC_Canada @BCLC @CullenInquiryBC
1. A former BC Lottery Corporation CEO drove his executives to increase revenue via high-limit gambling but didn’t follow a direction from Canada’s anti-money laundering watchdog that required B.C. casinos to establish the source of massive cash transactions.
2. Commission lawyers have been building the case that Lottery Corp. and casino managers hungered after revenue from foreign high rollers, even after being warned by investigators that B.C.’s casinos were being used to launder money by Chinese transnational drug gangs.
3. We are now at the stage where BCLC brass and Great Canadian brass are contradicting each other. “He also said casino managers and the Lottery Corp. targeted high rollers from casinos in Macau and spent money on facilities to attract these so-called “VIP” baccarat players.”
4. @BCLC brass earned as much as 25 per cent in bonus on their salary structure. Graydon used this language to drive them in December 2011 (ahead of the Chinese New Year high revenue season, incidentally)
5. “I want to stress to the group that it is absolutely critical that we come in on budget from a net-income perspective this year. If we do not, I also want to be very clear there will be no opportunity to pay out incentive this year ... tone in government is not good these days
6. “So remember the consequences you will unleash if you do not participate with some energy through this process.”
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