A public inquiry is projected to take place in British Columbia in the foreseeable future as more answers are sought in relation to money laundering discoveries. Former Public Safety Minister Rich Coleman has been previously linked to controversial situations. Recently he made it clear that he is ready to share his thoughts and testify in relation to the money laundering situation in the province.
British Columbia has been linked to the supposed washing of billions of Canadian dollars over the past nearly two decades. The local gaming field with its casino venues welcoming Asian high rollers and their entourage on a regular basis offered the best conditions for laundering copious amounts of cash amassed via criminal activities. The province as a whole appears to have attracted criminal proceeds not only with its gaming but also with its real estate and luxury vehicles fields.
Public Inquiry Triggered by Discoveries
Now it is time for action and answers to burning questions that could be guaranteed by a public inquiry. Ex-Minister Coleman is looking forward to answering some of the questions and proving he has no fault for the way things went down. It could be recalled that the New Democratic Party government accused him of paving the way for increased money laundering in the province.
Mr. Coleman pointed out that he was the official that introduced the new Gaming Control Act in order to bring a more independent decision-making process. He is known as the official responsible for a pivotal change in the operation of the British Columbia Lottery Corporation in 2009. Back then, the special force monitoring the field was dissolved.
Up until that point, it was taking care of the illegal gambling enforcement but the government decided to put an end to it. Between 2009 and 2016 no such team was overseeing the field and estimations have shown that this has facilitated money laundering through the local gambling and real estate fields.
CA$47B Laundered in Canada in 2018
The accusations previously expressed in the field were that Mr. Coleman is among the main reasons why British Columbia is in its current state and that the money laundering crisis has reached this extent. In 2016 the new group of experts overseeing the field was established in order to brace the field for the launch of operation of Parq Vancouver and monitor the operation of other gaming venues.
It could be recalled that Maureen Maloney worked on a report focusing on the British Columbia house market and the true scope of the money laundering problem in the province. In the meantime, it revealed more information about other provinces to the likes of Ontario, Alberta, and the Prairies. According to the information featured in the report, some CA$47 billion was laundered on a national scale over 2018 solely.
The reactions to this information were on a broad spectrum. As Alberta Justice Minister Doug Schweitzer was certain the figure is inaccurate. He claimed that this estimation should not be taken without a grain of salt. Meanwhile, the Ontario real estate association was quick to seek more information on the property owners on a provincial level.