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Money Laundering Through Casino

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Categories:crime, offline casinosPosted on 15 Mar 2021

Authorities in British Columbia believe a man accused of being at the core of a multinational drug dealing and money laundering ring had VIP accounts in Las Vegas, Macau, and the province.

Paul King Jin

This was revealed at the most recent meeting of the Cullen Commission, which is investigating the scope of BC's money laundering crisis. According to RCMP Cpl. Melvin Chizawsky, the money laundering problem in BC may also be a problem in Nevada.

A Royal Canadian Mounted Police (RCMP) investigation in 2015 named Paul King Jin as a suspected organized crime figure with connections to Silver International, an illegal bank posing as a currency exchange company in Richmond, British Columbia.

In a 2016 interview with police, Jin confessed to have gaming credit accounts with undisclosed Las Vegas and Macau casinos, which he used to plan gambling trips for Chinese nationals.

Officials from the B.C. Lottery Corp. testified at the inquiry that observations of bags of cash being distributed to gamblers at B.C. casinos lead to the banning of Jin and his associates in September 2012.

The sums of money were often in the hundreds of thousands of dollars, and they were generally in $20 bills bundled in rubber bands.

Money laundering

Silver International, according to officials, washed about $250 million a year across British Columbia's casino and property markets. He was using a money laundering scheme so popular in BC casinos that it was dubbed 'the Vancouver Model' by the international intelligence community.

This involves receiving money from a network of cocaine cartels, which would then be returned into a web of Chinese bank accounts. The dirty money was then loaned to high rollers on gambling trips from China, allowing them to prevent tight limits on cash movement out of the region.

The cash will then be gratefully received and turned into chips by British Columbia casinos, often in breach of anti-money laundering laws requiring operators to monitor unusual transactions to financial regulators.

The high rollers who had paid Silver in advance through bank transfers in China could then cash out the chips.

Targeted for assassination

Since a judge found that fighting the lawsuit would put a secret police agent 'at risk of death,' the trial of Silver International was dropped in 2018. This was due to investigators unintentionally disclosing the informant's identity to the defendants' counsel during a routine evidence discovery.

Jin and Silver International CEO Jian Jun Zhu were assassinated on Sept. 18 at the Manzo Japanese restaurant in Richmond. During the attack, Jin sustained facial injuries from bullet-shattered glass, but Jian died on the spot.

The B.C. Lottery Corporation's one-time director of anti-money laundering and investigations faced a grilling from a government lawyer Friday over the lack of action on suspicious cash transactions at the River Rock Casino.

A week of buy-ins by a single customer in December 2014 was a major focus of questions directed at John Karlovcec by Kaitlyn Chewka, a lawyer for B.C.'s Gaming Policy and Enforcement Branch (GPEB), during proceedings of a public inquiry on money laundering in this province.

Chewka read from a Dec. 30, 2014 email written by Karlovcec, in which he noted that a patron who'd recently made several large cash buy-ins at the River Rock had appeared once again with $360,000 in cash.

Casino Money Laundering Bc News

'This patron brought in $1.8 million into the River Rock casino, largely in small bills, over the course of seven days … You'd agree with me that these types of transactions are suspicious?' Chewka asked Karlovcec.

He agreed that was true, and said those transactions would have been reported to GPEB and police, along with Fintrac, Canada's financial transactions reporting centre.

But Chewka pointed out that BCLC's role in addressing suspected money laundering involves more than just reporting unusual transactions. The corporation oversees gambling in B.C. and has the power to direct casinos to take action in situations like this.

'Despite being aware of this issue as early as Dec. 26, 2014 … BCLC did not direct the service provider to refuse the cash?' Chewka asked.

'BCLC did not direct the service provider to require the patron to source the funds?'

Karlovcec said the patron in question would have been placed under investigation, but compelling the casino to take further action wasn't within his authority.

Chewka pointed out that in Karlovcec's emails addressing the transactions, he'd written, 'I recognize that we do not want to jeopardize revenue.'

But Karlovcec testified that he was under no pressure to prioritize casino revenue at the time.

Friction between agencies

The Cullen Commission of Inquiry into Money Laundering in B.C. was launched by the government after reports that illegal cash was helping to fuel the real estate, luxury car and gambling sectors in the province.

Karlovcec's testimony on Friday also hinted at some friction between investigators at BCLC and their counterparts at GPEB, in the police and among casino staff when it came to taking action on money laundering.

Casino Money Laundering Bc 2020

Karlovcec testified about how, in 2014, his team created profiles of the top 10 suspected 'cash facilitators' — or loan sharks — operating out of the River Rock at the time.

Those profiles, which included identifying details, photos and a list of known associates, were all provided to the anti-gang Combined Forces Special Enforcement Unit, and Karlovcec said he believed they would be used to open criminal investigations.

'But I don't think they actually did,' he told the inquiry. 'I think there were other tactical priorities for their group.'

Karlovcec also suggested that investigators at BCLC were often left in the dark when it came to the work going on at GPEB.

'It was like pulling teeth at times. Certainly we didn't get a lot of information from them,' he told the inquiry.

Meanwhile, Karlovcec has said he had a good working relationship with compliance officers at the River Rock, but emails read for the commission suggest there were situations where higher-ups at the casino bristled about BCLC investigators approaching high-rollers.

In one of those emails, Great Canadian Gaming Corp.'s then-vice-president of corporate security and compliance, Patrick Ennis, suggested that investigators 'could be a bit more polished' about speaking with VIPs in a high stakes room about large cash buy-ins at the River Rock.

Money Laundering Through Casino

The commission is set to resume hearings on Monday morning.