A 33-year-old Richmond woman and a 49-year-old Vancouver man have been arrested for alleged loan-sharking and money-laundering.
The pair was taken into custody last week after a more than two-year investigation by the Combined Forces Special Enforcement Unit of British Columbia (CFSEU-BC) – a multi-agency unit made up of various police and law enforcement teams.
Over the course of the investigation - related to criminal interest rates and the operation of a money service business - evidence was gathered which indicated the suspects allegedly laundered more than $828,000.
And on Nov. 5, CFSEU-BC’s joint illegal gaming investigation team (JIGIT) executed a number of search warrants on properties in Richmond and Burnaby, as well as on three vehicles.
As a result, a number of items were seized:
• Score sheets with client names and payment due dates;
• Four cellular phones;
• Two bank drafts totalling $50,000;
• $10,680 in Canadian cash; and
• Three high end vehicles.
"CFSEU-BC continues to target all aspects of criminal activities including money laundering and loan-sharking as a part of a coordinated organized crime enforcement strategy in B.C. Illegal gaming activities undermine the integrity of our financial institutions and allow criminals to secure the proceeds of crime not just for personal benefit but to fuel additional crimes,” said Insp. Mandeep Mooker, investigations officer at JIGIT.
“Enforcement action such as this one has a strong immediate impact and long-term disruption implications.”
