Casino News

Premier Horgan Backs Possible Public Inquiry on BC Casinos’ Money Laundering Scheme

Premier John Horgan shared that a public inquiry may be needed to make sure how illegal money laundering schemes reached casinos in British Columbia, a problem which has become one of the hottest issues in the province.

At a news conference which took place yesterday, Mr. Horgan explained that he had not ruled out the possibility for an inquiry to be carried out in order for more details about the money laundering scheme to be brought to light. At the time when his report on the matter was issued, the former Royal Canadian Mounted Police (RCMP) deputy commissioner Peter German called local casinos “laundromats” for unlawful money due to the fact that they were used in illegal money laundering schemes.

Mr. Horgan called the findings included in the German’s report “absolutely horrifying” and shared that a lot of questions related to these foul schemes over the past 16 years occurred, referring to the time-frame over which the province of British Columbia was governed by the local Liberal Party.

As Casino Reports revealed last week, the report of Mr. German was released last week, with some revelations about the flawed regulatory regime for casino gambling which allowed casino venues in the province to become a mere tool for large-scale money laundering which also threatened to take over other sectors of the province’s economy, too. At the time when his report findings were made public, Mr. German also called for a further investigation on the matter, especially when it comes to the more vulnerable sectors of the BC economy, including real estate.

Real Estate Sector Could Be Affected by Money Laundering, Says Attorney General

The Premier revealed that he had discussed the matter with Carole James, the local Finance Minister, as well as with David Eby, the Attorney General of British Columbia. According to him, there would be some movement on the matter over the next few weeks.

As mentioned above, he also backed the idea of a possible public inquiry that would be aimed at assigning the blame. In addition, Mr. Horgan revealed that both he and Ms. James and Mr. Eby share concerns related to money laundering in the real estate sector.

Previously, the British Columbia Attorney General said in an interview that he is working in collaboration with the Finance Minister as far as the new phase of the review is concerned. He also explained that the focus of the casino review was easier to establish, as the authorities had extensive information and evidence which had made it much easier for the investigators to define the seriousness of the problem and suggest some measures which could make things right.

As previously revealed by Casino Reports, Mr. Eby said that money laundering could reach other sectors of the local economy, with real estates being one of the most possible targets of such illegal practices.