PEPs from China
According to this article in the Vancouver Sun, two Canadian banks opened and maintained a bank account for politically exposed persons from China who are now alleged to have laundered $900,000 in proceeds of crime from China to Canada and the US.
The two politically exposed persons areÂ Shilan Zhao (è¶™ä¸–è˜) and her ex-spouse, Jianjun Qiao (å–¬å»ºè»). They are politically exposed in anti-money laundering law because Qiao was theÂ director of a government corporation in China, Sinograin, and Zhao was his spouse.
Zhao and Qiao were indicted in the US a week ago and charged with conspiracy to commit immigration fraud and international transport of stolen funds, as well as conspiracy to commit money laundering. Zhao is additionally charged with one count of immigration fraud in respect of the EB5 immigration program. They are alleged to have done business in Vancouver, including flipping of real estate properties.
Zhao was arrested in the US but Qiao is a fugitive.