Voyager Digital: Asking Questions about Canadian Capital Markets

Tweet Part 1 – Attempts to legislate securities Fraud in Canada Voyager Digital “Asking Questions About Canadian Capital Markets” is a series of articles about the capital markets in which we explore some Canadian public companies and ask questions. These questions may shed light on the now-defunct Canadian digital currency exchange called Voyager Digital.  One […]

US indicts foreign national for laundering money from Iran through Canada, US, Korea and parking it in expensive real estate

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 […]

Iran renews calls for the deportation of Khavari

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 […]

Ming Pao Newspaper covers diamond smuggling trade from Hong Kong to Vancouver

Tweet Diamond smuggling into Vancouver The Ming Pao Saturday Magazine has an interesting story on the arrest of two men from Hong Kong who attempted to smuggle $120 million worth of diamonds into Canada. The diamonds were strapped to their legs and are believed to be proceeds of crime. The story discusses the issue of […]

Canada imposes sanctions on the Bank of Moscow and bans CEO of Bank of Russia in new sanctions

Tweet Sanctions likely to seriously impede Canadian-Russian financial transactions and therefore significant trade By Christine Duhaime, B.A., J.D., Financial Crime and Certified Anti-Money Laundering Specialist Follow @cduhaime The Canadian government has announced the imposition of sanctions against the Bank of Moscow, the Russian National Commercial Bank and other Russian and Ukrainian-controlled businesses and financial institutions, as […]

Canada makes its first corporate prosecution for economic sanctions violations

Tweet Although Canadian economic sanctions have been in place for years, until now Canada has never prosecuted any company for sanctions violations. That changed earlier this month when Lee Specialities Ltd., a Calgary based company, was charged with violating Canadian (and UN) economic sanctions by exporting goods to Iran that could be used for nuclear devices. […]

Canada major money laundering country in 2014 International Narcotics Control Strategy Report on Financial Crime and Money Laundering

Tweet Canada a Major Money Laundering Country but A Lot Less So The 2014 International Narcotics Control Strategy Report (“INCSR“) published this month by the U.S. Department of State identifies Canada as a “major money laundering country” along with, among others, Afghanistan, Brazil, Cambodia, Cyprus, Dominican Republic, Guernsey, Jersey, Hong Kong, Libya, Mexico, Macau and Somalia. […]

Silk Road owner arrested over money laundering charges and allegations of ordering hit on man from Canada

Tweet Ross Ulbricht, allegedly the ‘Dread Pirate Roberts’ and owner of the website Silk Road, was arrested by the FBI in San Francisco today at a public library and his popular website was shut down. Silk Road was an Internet-based website that accepted Bitcoin. Ulbricht was charged with money laundering conspiracy, computer hacking conspiracy and drug […]

Hong Kong woman sentenced for being a money mule for laundered Canadian funds

Tweet Canadian funds carried by money mule to China The Court of Appeal for Hong Kong has upheld the money laundering conviction of a woman who acted as a money mule to China, and increased her sentence to two years. The decision, HKSAR v. Ngai Fund Sin Apple (律政司司長 訴 倪鳳仙), CAAR 1.2013, is one of a […]

Auditor General of Canada says $3.1 billion in funding to combat terrorism unaccounted for in Canada

Tweet The Auditor General of Canada, Michael Ferguson, released his Spring 2013 Report (the “Report“) today and among the key findings, found that a whopping $3.1 billion in funding to programs to combat terrorism in Canada is unaccounted for. Moreover, the Report found that some of the $12.9 billion approved for fighting terrorism in Canada went to pay […]