Organized crime and money laundering offences have resulted in the arrest of a B.C. man.
The 30-year-old Burnaby resident is one of seven individuals who allegedly laundered $47 million dollars through online transactions of illicit canabis in British Columbia and Alberta.
According to the Federal Financial Crime Team (FFCT), Harry Seo operated two illicit cannabis-related businesses in the Burnaby, B.C. and Edmonton, Alberta areas.
Mounties say “these companies are alleged to have received, transferred or converted proceeds of crime through illicit cannabis sales via a variety of online dispensaries. The investigation also found that the uSMBs within the money laundering network received tens of millions in sales through e-Transfer payments. Through email addresses linked to these e-Transfer payments, officers were able to identify eight individuals who received a a total of $47 million in proceeds of crime.”
He has a court date in Vancouver this week (January 31st).
Previously, five people had been charged and convicted as a result of failing to register a money service business with FINTRAC. FINTRAC is the Financial Transactions and Reports Analysis Centre of Canada.
Another person is slated to stand trial in Edmonton in November of this year. The 33-year-old resident of Brampton, Ontario faces a similar charge.
