Tweet Canada introduced a new Cannabis law, Bill C-45, the Cannabis Act, expected to come into force in July 2018. Part 1 – Background on Current Law, Illegal Dispensing; Denial of Bank Accounts Illegality of Cannabis Sales Except for Medical Purposes Until the Cannabis Act comes into force, it is illegal to sell or have […]
Tweet Shilan Zhao (趙世è˜), the ex-wife of a Chinese official and a politically exposed person, has pleaded guilty to immigration fraud related to the EB5 investor visa program in the US and will serve a term of incarceration of five years. Zhao conspired with her husband, Jianjun Qiao (喬建è»), aka Feng Li, to immigrate to […]
Tweet Equatorial Guinea trial Teodorin Obiang, the son of the President of Equatorial Guinea, is being prosecuted in France for allegedly laundering the proceeds of corruption in France. Mr. Obiang is also the Vice-President of Equatorial Guinea and is a politically exposed person. His trial is scheduled for June 2017. He is accused of bringing […]
Tweet In Canada and the US, lawyers are not subject to anti-money laundering reporting obligations like they are in most other countries. One of the most frequent reasons given for this by lawyers is that to require us to report certain financial transactions to a financial intelligence unit is inconsistent with, and would undermine, legal […]
Tweet The US federal government has filed an indictment against a foreign national, Kenneth Zong, who resided in the US for allegedly laundering over $1 billion from Iran through Canada, the US and a number of other countries in violation of international sanctions law that prohibit providing financial services to Iranian foreign nationals in Iran […]
Tweet An Ontario court has ruled that evidence seized from the car of a person alleged to be connected to the Hell’s Angels can be admitted at trial even when that evidence was taken ostensibly under one piece of legislation, but was intended to be admitted for an investigation under other legislation. In November 2012, […]
Tweet 1. Canada a Major Money Laundering Country The 2016 International Narcotics Control Strategy Report (“INCSR“) published in March 2016 by the U.S. Department of State identifies Canada as a “major money laundering country†along with, among others, Afghanistan, Brazil, BVI, Cayman Islands, Cambodia, Cyprus, Dominican Republic, Guernsey, Jersey, Hong Kong, Iran, Iraq, Libya, Mexico, Macau […]
Tweet Canada get 25% compliance grade from FATF FATF notes the concern of proceeds of crime coming into real estate in Vancouver from China The FATF Mutual Evaluation of Canada was released today and according to the Report, Canada achieved a grade of 25% compliance with international anti-money laundering and counter-terrorist financing standards. Out of […]
Tweet The RCMP has charged a former head of a Crown corporation, Michel Fournier, and his wife, Judith Fournier, both resident in Victoria, with money laundering in connection with alleged corruption from kickbacks they allegedly received tied to a $127 million contract to renovate the Jacques Cartier Bridge. Fournier had a secret bank account in […]
Tweet The requested deportation of Mahmoud Reza Khavari, a former Iranian foreign national, and a Canadian citizen living in Toronto, seems to be at the centre of the arrest of a Canadian professor from Montreal, Homa Hoodfar, also an Iranian foreign national and equally a Canadian citizen, who was visiting Iran. Professor Hoodfar was arrested […]